Ruble Gains With Equities as Crimea Sanctions Impact Seen Muted

The ruble snapped a six-day losing streak and Russian stocks rallied from a four-year low on speculation sanctions imposed on the country over Crimea will have a limited impact. Russian equities in New York advanced.

The Micex Index closed up 3.7 percent at 1,283.70. The Market Vectors Russia ETF, the biggest U.S. exchange-traded fund that holds Russian shares, rose 2.5 percent to $22.36 by 3:10 p.m. in New York, while the RTS Index surged 4.9 percent, the most among global indexes. The ruble rebounded from a record low, climbing 0.6 percent to 42.7821 against Bank Rossii’s target basket of dollars and euros by 6 p.m. in Moscow, when the central bank stops its market operation.