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Russian rouble surges after reports of a ceasefire

3 September 2014 Last updated at 17:15 BST

Russian shares and the value of the rouble surged on Wednesday after an announcement of a permanent ceasefire in eastern Ukraine.

It came after the president of Ukraine said he had reached a deal with President Putin of Russia - but the initial optimism was spoilt by an announcement from the Kremlin that it had not.

So far, there has been no indication that the forces in eastern Ukraine have stopped fighting.

Jeremy Howell reports.