Rusal’s Shares Plummet After US Sanctions Russian Aluminum Giant

Rusal’s Shares Plummet After US Sanctions Russian Aluminum Giant

Tang Shihua

Date: Mon, 04/16/2018 - 16:41 / source:Yicai
Rusal’s Shares Plummet After US Sanctions Russian Aluminum Giant
Rusal’s Shares Plummet After US Sanctions Russian Aluminum Giant

(Yicai Global) April 16 -- Shares of United Co. Rusal Plc slumped to a record low after investors dumped the Russian aluminum producer’s stock in the wake of US sanctions.

Rusal [HK:00486] fell 30 percent today to close at HKD1.42 (USD0.18). The Moscow-based company’s shares began to slide after climbing to a high of HKD6.09 in Hong Kong in early February.

The Trump administration last week slapped sanctions on Russian companies and individuals, including Rusal, the smelting giant controlled by Russian metals billionaire Oleg Deripaska, for allegedly interfering in the US presidential election in 2016. Investors have since been bailing on the impacted Russian companies.

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Keywords: Stock Market, RUSAL, Asia Markets