Russian Stock Rally Fades as Ukraine Conflict Reignites - Bloomberg

Russian Stock Rally Fades as Ukraine Conflict Reignites - Bloomberg:



"Russian stocks trading in New York pared the best weekly gain in a month as the conflict in Ukraine escalated while U.S. and European leaders set a May 25 trigger for possible economic sanctions.



The Bloomberg index of the most-traded Russian shares in the U.S. fell 1 percent on May 2, trimming its five-day gain to 2.5 percent. Futures on the benchmark RTS Index dropped in U.S. hours on concern President Vladimir Putin will send troops into Ukraine after the government in Kiev engaged separatists in the nation’s east.



Stocks rose earlier in the week as the U.S. and the European Union stopped short of imposing sanctions on Russia that would have a broader economic impact. Investor concerns were reawakened on May 2 after Ukraine sent armored vehicles and artillery to retake Slovyansk, a separatist stronghold, and President Barack Obama and German Chancellor Angela Merkel warned they’re ready to impose more measures against Russia.

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