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Magnit Rout Shows Russian Consumer Fading As Rates Rise
date:Apr 29, 2014
of normal business hours on April 25.

The annexation of Crimea from Ukraine last month prompted the US and the European Union to introduce sanctions against Russia, threatening to tip the $2 trillion economy into recession. The standoff, the worst since the end of the Cold War, intensified capital flight and triggered a selloff in Russian financial markets.

While Magnit rallied 65% in London trading last year, it soared 91% in Moscow, making it the best performer on the Micex. Its advance was

12/24 23:25