Russian stock bears get scorched by 29% rebound

Source: Bloomberg
© Scanpix/AFP
The bearish sentiment for Russian shares reached a record in March yet it quickly turned as the Micex has gained 29% since then. With the sanctions being milder than expected it added another 2.6% yesterday and was trading at $24.46. In addition, many traders are now simply staying away from this market as its further direction is very uncertain.
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