Russian ADRs Gain as EU Ends Meeting Without Sanctions - Bloomberg

Russian ADRs Gain as EU Ends Meeting Without Sanctions - Bloomberg:



"OAO TMK, a maker of pipes for oil and gas producers, led a gain in U.S.-traded Russian stocks as European Union ambassadors ended a meeting without a decision on new sanctions linked to the Ukraine war.



The company’s American depositary receipts rose 2.6 percent to $9.86 in New York yesterday. It was the best performance on the Bloomberg Russia-US Equity Index, which increased 0.1 percent to 87.22 after reversing a loss of as much as 0.5 percent. Natural-gas producer OAO Gazprom added 1.3 percent to $7.55, ending a two-day drop. Futures (VEA) on the dollar-denominated RTS index expiring this month gained 0.9 percent in U.S. hours.



Stocks rose as an EU official, speaking on condition of anonymity, said diplomats ended a meeting without deciding whether to impose new sanctions on Russia or when penalties would take effect. They’re gathering amid an uneasy cease-fire between Kiev and rebels in the east. Ukrainian President Petro Poroshenko said that Russia, which denies involvement in the conflict, has withdrawn more than two-thirds of its troops."



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