Emerging Currencies Drop as Crimea Vote Boosts Micex - Bloomberg

Emerging Currencies Drop as Crimea Vote Boosts Micex - Bloomberg:



"Emerging European currencies declined versus the dollar, Russian shares rose from their lowest since 2010 and wheat gained after Crimea’s disputed vote to leave Ukraine. Chinese equities climbed as the yuan dropped after the government widened the currency’s trading band.



Russia’s ruble slipped 0.2 percent as of 7:07 a.m. in London, while Hungary’s Forint retreated 0.4 percent. Futures on the Euro Stoxx 50 Index rose 0.2 percent and Standard & Poor’s 500 Index contracts were little changed. Moscow’s Micex Index climbed 1.2 percent. The yuan retreated to this month’s low of 6.1708 versus the dollar, while a measure of Chinese shares in Hong Kong added 0.2 percent. Tencent Holdings Ltd. (700), China’s biggest internet company, tumbled 2.6 percent in Hong Kong as e-commerce site Alibaba Group Holding Ltd. began work on a U.S. listing."



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