Russia ETF Gains as New EU Sanctions Seen to Be Moderate - Bloomberg

Russia ETF Gains as New EU Sanctions Seen to Be Moderate - Bloomberg:



"An exchange-traded fund of Russian stocks gained in New York as the European Union’s proposed sanctions to punish the country for its support of separatists in Ukraine weren’t as deep as some investors had expected.



The Market Vectors Russia ETF (RSX), the largest U.S. dedicated ETF tracking the nation’s companies, increased 0.4 percent to $25.03 in New York yesterday. American depositary receipts of OAO Mechel advanced 3 percent while OAO GMK Norilsk Nickel gained 1.5 percent. The Bloomberg Russia-US Equity Index slipped 0.1 percent to 86.58, reversing an earlier gain of as much as 0.4 percent. 




The ETF advanced as a draft document obtained by Bloomberg showed the EU is preparing to sanction top Russian security officials and didn’t mention targeting any major companies. The 28-member bloc is also considering a ban on European purchases of bonds or shares sold by Russia’s state-owned banks among the options for stepped-up measures against the Kremlin, according to a proposal presented to member states."



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