Russian Shares and Ruble Jump on News of Ukraine Cease-Fire

By Reuters

Sep. 3, 2014

An employee of a bank counts rouble banknotes in Moscow. Maxim Zmeyev / Reuters

Russian shares surged after Ukraine's President Poroshenko said that he had agreed with President Vladimir Putin on a permanent cease-fire in the Donbass region of eastern Ukraine.

At 12:10 pm Moscow time, the dollar-denominated RTS index was up 3.9 percent on the day at 1,224 points, with the rouble-based MICEX index up 2.6 percent to 1,437 points.

The ruble also soared, gaining 1.3 pct against the dollar to 36.98.?

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