No major equity market in the world rallied more than Russia’s yesterday, underscoring how the latest round of international sanctions against the country proved weaker than many investors anticipated.
U.S. stocks rose, with the Standard & Poor’s 500 Index erasing an earlier slide as a selloff in Internet and smaller companies abated amid optimism over deal activity. Treasuries declined for the first time in a week before Federal Reserve policy makers meet tomorrow.
European stocks advanced as companies from AstraZeneca Plc to Bayer AG rose amid an increase in mergers-and-acquisitions activity, offsetting new U.S. sanctions against Russian individuals and companies.
OAO AvtoVAZ, the Russian automaker part-owned by France’s Renault SA, will end the year with a profit after a loss last year as the economy starts to recover and the government offers incentives to encourage new car sales.