2014.03.1706:05:32UTC+00Russia shares bounced back after Crimea referendum

Russian stocks traded higher in early activity on Monday, in the light of initial results of Sunday's referendum that reflected an overpowering positive vote by Crimeans to join Russia.

The blue-chip MICEX index escalated 1% to 1,253.86 on Monday. But last week saw the index close with a 7.4% loss, as tensions intensified before the said referendum. That hugely matched the previous week's loss. The index hasn't seen weekly losses of that magnitude since September 2011, based on the FactSet Research.

The Russian ruble diminished some versus the dollar, soothing 0.3% to 36.66 roubles, and slacked 0.2% to 50.90 versus the euro.