Magnit Rout Shows Russian Consumer Fading As Rates Rise
date:Apr 29, 2014
les to contain the economic and political fallout from its push into neighboring Ukraine.

Magnits global depositary receipts fell 3.8% to $45.50 on April 25 in London, extending its worst weekly decline since 2011 to 13%. The stock is down 31% this year after soaring 65% in 2013. The Bloomberg Russia-US Equity Index sank 7.9% last week as the truce forged to ease tension in eastern Ukraine unraveled, fueling concern that President Vladimir Putin faces stiffer international sanctions.

The econo
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