date:Apr 29, 2014
OAO Magnit (MGNT), last years Russian stock-market darling, is turning into one of this years laggards.
The countrys largest retailer dropped to a 12-month low last week as a surprise interest-rate increase by Bank Rossii sparked concern that a slowdown in consumer spending will deepen.
After a resilient retail industry formed one of the few bright spots last year for an economy that grew at its slowest pace since 2009, higher lending costs are sapping consumer demand just as the nation strugg