Moscow-to-New York Rally Fueled by Ukraine Progress - Bloomberg:
"Russian stocks in Moscow, London and New York are headed for the biggest quarterly gain since September amid signs the Ukraine crisis is winding down and as oil prices surged on rising tension in the Middle East.
The Bloomberg index of the most-traded Russian stocks in the U.S. is set for a 9.1 percent gain since March while the Market Vectors Russia (RSX) exchange-traded fund has surged 12 percent. The Russian Depositary Index of companies listed in London rose 12 percent for the three months and the Micex Index is up 7.9 percent.
Ukraine extended a cease-fire with pro-Russian rebels last week, adding to efforts aimed at quelling a conflict that sparked a selloff in Russian equities in March and April. The U.S. and European Union have refrained from imposing deeper sanctions against President Vladimir Putin even as they accuse his government of helping separatists in eastern Ukraine. Crude oil, Russia’s biggest export, has gained 3 percent this month as sectarian violence erupted in Iraq."
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