Russia Stocks Drop After Rally as Sanctions Threat Offsets Truce

Russian stocks fell after jumping the most since March yesterday as investors weighed whether President Vladimir Putin’s peace plan for Ukraine would go far enough to avert new sanctions.

The benchmark Micex Index declined 0.4 percent to 1,442.89 by 1:41 p.m. in Moscow. The measure rallied 3.5 percent yesterday, the biggest advance since March 18, as Putin agreed with Ukrainian President Petro Poroshenko on steps toward a cease-fire in his neighbor’s eastern region. OAO Sberbank, the nation’s biggest lender, dropped 1.3 percent today following’s yesterday’s 6.4 percent surge.