Russia stocks rebound after Crimea vote

Russian stocks traded higher in early action on Monday, in the wake of preliminary results of Sunday’s referendum that showed an overwhelmingly positive vote by Crimeans to join Russia. The blue-chip MICEX index rose 1% to 1,253.86 on Monday.

But last week saw the index close with a 7.4% loss, as tensions rose ahead of the Crimea vote. That largely matched the prior week’s loss. The index hasn’t seen weekly losses of that magnitude since September 2011, according to FactSet Research. The Russian ruble weakened some against the dollar , easing 0.3% to 36.66 roubles, and eased 0.2% to 50.90 against the euro .

Source : Marketwatch

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