UNITED STATES: ‘ US Stocks Jump As Tensions in Russian-Ukraine Crisis With End of Military Exercises Near Ukrainian Border ‘

#AceFinanceNews – UNITED STATES – August 08 – U.S. stocks jumped on Friday, with benchmark indexes turning higher for the week, on signals of reduced tensions in the Russian-Ukraine crisis and as Wall Street viewed American military moves in Iraq as limited.

Reuters, citing Russia’s Interfax, reported that Russia had ended military exercises near the Ukrainian border.

The war games, which began Monday, were scheduled to end Friday, according to media reports including the Guardian.

"This is a good excuse to work off an oversold condition," said Peter Boockvar, chief market analyst at the Lindsey Group, who questioned whether the development truly shed any light on Russian President Vladimir Putin’s intentions.

#AFN2014

MOSCOW: ‘ Share Markets Rise As Stocks React to Russian Food Producers ‘

#AceFinanceNews – RUSSIA (Moscow) – August 08 – Markets react and stocks rise in certain Russian Food Producers.

Published time: August 08, 2014 09:45

Get short URL

RIA Novosti/Alexey Kudenko

RIA Novosti/Alexey Kudenko

Tags

EU, Markets, Russia and the global economy, Sanctions

Shares in some of Russian food producers have added almost 40 percent by midday on Friday. The surge comes a day after Moscow imposed a one-year ban on imports of food products from the West.

Shares in one of Russia’s biggest agricultural holdings Razgulay shot up 39.87 percent by Friday afternoon, according to Moscow Stock Exchange data.

Stocks in the Russian Sea fish and Seafood producer surged 34.85 percent, GlavTorgProduct stocks also rose 35 percent.

Meat manufacturer Cherkizovo saw an 8.25 percent rise, the Ostankino meat processing plant had an 18.5 percent boost.

This increase has far outpaced the overall dynamics of Russia’s key indices, the RTS and MICEX, which were up 0.92 percent and 0.38 percent respectively.

On Thursday Russian Prime Minister Dmitry Medvedev signed a decree banning all imports of beef, pork, poultry meat, fish, cheese, milk, vegetables and fruit from Australia, Canada, the EU, the US and Norway.

READ MORE: Russia bans agricultural products from EU, USA, Australia, Norway, Canada

Russian farmers were mostly inspired by the decision, calling it a unique and historic opportunity to develop domestic production.

The value of Russian agricultural product production could grow by about $10.8 billion in the next 18 months, Agriculture Minister Nikolay Fyodorov, told ITAR–TASS on Thursday.

#AFN2014