RusHydro Dropping to VTB as Sales Slump: Russia Overnight
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OAO RusHydro, the Russian renewable energy producer that sank to a record low in London yesterday, will extend declines as a second year of sliding revenue dims dividend prospects, according to VTB Capital.
RusHydro, urged last month by President Vladimir Putin to investigate missing building funds, slid in London and Moscow yesterday and is the second-biggest decliner this year among the most-traded Russian stocks in New York. The Bloomberg Russia-US Equity Index fell 0.4 percent to 100.33, while futures on Moscow’s RTS Index slipped 0.1 percent to 152,890.