Russian stocks rise following ceasefire announcement

[pampango]

Source: BBC

Russian stocks have risen to their highest level in three months following the announcement of a ceasefire agreement with Ukraine.

The main Micex index gained 2.6%, while Russian gas giant Gazprom saw its highest jump since June, rising 3.3%. The Russian rouble also surged, up 1.4% against the dollar to 36.89 roubles.

The figures come after Ukranian president Petro Poroshenko announced he had agreed a "ceasefire process" with President Putin. A spokesperson for the Russian President denied that a deal had been made, saying that Russia was not a party to the conflict. The Kremlin later said that steps towards peace had been made.

The Russian rouble has fallen 11% against the dollar this year. Last week, the currency hit its lowest rate since it was restructured in 1998.

Read more: http://www.bbc.com/news/business-29043465

---

The rise in Russian stocks is equivalent to about 450 points on the US stock market - a good day.

[C Moon]

1. Great! I hope something is learned by this.

[seveneyes]

2. They found the elusive Peace Dividend

We could all use some.

[ballyhoo]

3. Good going, Vlad.

[muriel_volestrangler]

4. Odd - the Russians denied it was a ceasefire; the Ukrainians dismissed a Russian proposal

http://www.reuters.com/article/2014/09/03/us-ukraine-crisis-idUSKBN0GX21720140903

and no-one from the rebels seemed to acknowledge either plan. But traders have reacted favourably, none the less.

[pampango]

5. That may not augur well for tomorrow when all this 'reality' bites back at the optimism

that existed today.

[Major Hogwash]

6. Did President Obama or the EU lift their economic sanctions against Russia as a result of this news?

I wonder what the dead of winter will be like for Putin this coming winter now that he is divorced.