European and Russian stocks rallied while oil prices retreated on Tuesday morning after Russian officials said some of the country’s troops were being returned to bases after drills near the Ukraine border, with markets welcoming the declaration as a sign that a military conflict may be averted. “The units of the southern and western military districts, having completed their tasks, have already begun loading onto rail and road transport and will begin moving to their military garrisons today,” Russia’s Defense Ministry spokesman Igor Konashenkov said in a statement. The announcement came after weeks of heightened tensions as Western leaders warned that Russian forces were poised for an imminent invasion of neighboring Ukraine. Following the statement on the troop pullback, the STOXX index of 600 European companies rose 5.19 points, or 1.1 percent, to 466.14 points, by 4:49 a.m. New York time. The German DAX index rallied 211.68 points, or 1.4 …
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