U.S. Shares of Russian Stocks Rebound on Lowered Tensions

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American shares of Russia-based companies and related ETFs snapped back in Tuesday trade, recovering some ground as the crisis between Russia and Ukraine looked a bit less critical.

The shares dove Monday following Russia's dispatch of military troops into Ukraine's Crimean peninsula.

In afternoon trade, among ETFs that track Russian shares, the Direxion Daily Russia Bull 3x Shares ( RUSL ) jumped 9.57% to $16.15. The Market Vectors Russia ETF Trust ( RSX ) gained 3.65% to $23.59.


EPAM Systems ( EPAM ), an information technology concern with operating locations in both Ukraine and Russia, plummeted on Monday but gained 18.66% to $38.06 by Tuesday afternoon.

Yandex ( YNDX ), Russia's largest search provider, rose 7.66% to $34.70. Online payments provider QIWI ( QIWI ) added 6.18% to $41.22.

Two Russian telecoms also regained ground. Mobile Telesystems (MBT) rose 3.14% to $16.42, and VimpelCom (VIP) added 1.76% to $9.82.

Mechel (MTL) rose 0.58% to $1.73 and Lukoil (LUKOY) gained 4.20% to $53.35.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: RUSL , RSX , EPAM , YNDX , QIWI

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