GLOBAL MARKETS- Ukraine ceasefire hopes push stocks, rouble higher

Wed Sep 3, 2014 11:23am GMT

* Russian shares surge, Europe rises on truce talk

* Rouble rises against dollar, euro strengthens

* Wall Street set to open higher

* ECB expectations temper German bond yield rise

By John Geddie

LONDON, Sept 3 (Reuters) - World markets jumped on Wednesday as Ukraine's President Petro Poroshenko said a ceasefire had been reached with Russia, raising hopes that a recent escalation in the conflict could be reversed.

The news sent Russian shares soaring towards their biggest daily gains in four months, while the rouble jumped 1.5 percent against the dollar, despite some differing reports of the extent of the truce talks from the Kremlin.

Poroshenko's press office said Ukraine's president reached agreement with his Russian counterpart Vladimir Putin on Wednesday on a "permanent ceasefire" in eastern Ukraine's Donbass region.

The Kremlin later said steps towards peace had been discussed but there was no formal ceasefire because Russia is not a party to the conflict between Kiev and pro-Russian rebels in Ukraine's eastern Donbass region.   Continued...

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