Shares Leap 2.5% After Putin Renounces Right to Military Intervention in Ukraine

By Reuters

June 24, 2014

Russian shares leapt to a five-month high on Tuesday after President Vladimir Putin asked the upper house of parliament to revoke Russia's right to send troops to Ukraine, where pro-Russian separatists have been fighting troops loyal to Kiev.

The dollar-denominated RTS index rose more than 1 percent immediately after news agencies reported Putin's move, citing his official spokesman Dmitry Peskov.

The index was up more than 2.5 percent on Monday's close by 2:14 p.m., surpassing 1,400 points for the first time since mid-January. The ruble was up 0.7 percent against the dollar from the previous close.

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