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Rusal Climbs Most in Six Months in Moscow on ‘Window Dressing’

March 30 (Bloomberg) -- United Co. Rusal, the largest maker of aluminum, advanced the most in almost six months in Moscow on “window dressing” at the end of the Asian financial year.

Rusal rose as much as 8.4 percent in the Russian capital, the biggest intraday jump since Oct. 5. It gained 5.1 percent in Hong Kong today and lost 56 percent in the year ending March 31.

“It’s most likely the so-called window-dressing effect,” said Dmitry Smolin, an analyst at UralSib Capital. “The quarter is ending, and so is the financial year in Asia. There is a little rally in the stock so investors could report more favorable returns at the end of the reporting period.”

Rusal’s Russian depositary receipts advanced 6.5 percent to 223 rubles by 12:43 p.m. in Moscow trading. They have increased 12 percent in the city this year.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

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