Russian tech/telecom stocks bounce back

|By:, SA News Editor

Clobbered yesterday by worries about Ukraine tensions and the potential for related sanctions, Russian tech and telecom stocks are rebounding strongly today.

EPAM Systems (EPAM +19%), headquartered in the U.S. but relying heavily on its Russian ops, is the biggest winner. Shares fell 24% yesterday, with their losses steepening following a mid-day Barclays downgrade to Equalweight.

Other gainers: LXFT +18.7%. YNDX +6.4%. QIWI +4.5%. MBT +3%. VIP +1.7%.