Sberbank Leads Best Russian Weekly ADR Gain in 10 Months - Bloomberg:
"Russian equities surged the most last week in 10 months, led by OAO Sberbank, as President Vladimir Putin’s pledge to withdraw troops from the Ukraine border spurred speculation the crisis may be easing.
The Bloomberg index of the most-traded Russian stocks in the U.S. surged 5.2 percent last week, its biggest advance since July, as American depositary receipts of Sberbank, the country’s biggest lender, jumped 14 percent to a one-month high. OAO Gazprom, the world’s biggest producer of natural gas, posted the biggest weekly gain since December 2011.
With U.S.-listed Russian stocks trading near the lowest valuations since 2009 after a 19 percent plunge this year, investors from Aberdeen Asset Managers Ltd. (ADN) to Skagen AS said they have been buying. Putin on May 7 pledged to pull back troops amassed at the Ukrainian border and urged separatists in Ukraine’s south and east to postpone votes on regional autonomy. Ukrainian Prime Minister Arseniy Yatsenyuk said that a dialogue aimed at preserving national unity would start this week."
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