Rusal Jumps Most in Month on Potential MSCI Index Inclusion
United Co. Rusal, the world’s biggest aluminum producer, gained the most in a month after Deutsche Bank AG said the company may be included in the MSCI Russia Index.
The stock added 2.5 percent to HK$12.18 by the close in Hong Kong, its biggest gain since April 4. Its Moscow-traded shares climbed 0.9 percent to 426.39 rubles by the 6:45 p.m. close.
“Rusal is likely to be included into the index once MSCI confirms that the Russian Depositary Receipts issued in December are indeed a Russian listing representing a solid domestic investor base,” Yaroslav Lissovolik, chief strategist at Deutsche Bank in Moscow, wrote in a report dated April 28.
The review is scheduled for May 16, Lissovolik said.
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