Russia Stocks Drop After Rally as Sanctions Threat Offsets Truce - Bloomberg

Russia Stocks Drop After Rally as Sanctions Threat Offsets Truce - Bloomberg:



"Russian stocks fell after jumping the most since March yesterday as investors weighed whether President Vladimir Putin’s peace plan for Ukraine would go far enough to avert new sanctions.



The benchmark Micex Index (INDEXCF) declined 0.4 percent to 1,442.89 by 1:41 p.m. in Moscow. The measure rallied 3.5 percent yesterday, the biggest advance since March 18, as Putin agreed with Ukrainian President Petro Poroshenko on steps toward a cease-fire in his neighbor’s eastern region. OAO Sberbank, the nation’s biggest lender, dropped 1.3 percent today following’s yesterday’s 6.4 percent surge.



Currencies and stocks across emerging markets climbed as Putin’s seven-point plan to achieving peace boosted optimism that fighting will end between pro-Russian rebels and government forces in Kiev. The European Commission will continue preparations for the next round of Russia sanctions, spokeswoman Maja Kocijancic said yesterday. U.K. Prime Minister David Cameron threatened tougher penalties if the crisis worsens."



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