Russia Stocks to Ruble Rally on Relief Sanctions Weren’t Tougher

Russian stocks gained for a second day and the ruble strengthened for the first time in a week as some investors saw U.S. and European Union sanctions as milder than anticipated.

The benchmark Micex Index added 0.9 percent to 1,382.14. Russia’s currency rose 0.7 percent to 35.5365 per dollar as of 6 p.m. in Moscow. That pared its decline in July to 4.4 percent, still the steepest monthly loss since January and the worst drop in the period among 24 emerging-market peers tracked by Bloomberg.