Putin Chases Off Short Sellers as Russian Stocks Rebound
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President Vladimir Putin’s pledge not to expand beyond the Crimea peninsula in Ukraine is driving short sellers out of the Russian stock market.
Traders have scaled back bets on declines in the Market Vectors Russia exchange-traded fund to 5 percent of outstanding shares from a record-high 21 percent on March 3. That’s the largest drop for a comparable period since June, according to data compiled by Bloomberg and Markit.