Russia Business Hits Global Companies Suffering What Ruble Lost
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Russia’s political travails are taking a toll on stocks beyond its borders, from a Finland tiremaker to a U.K. event organizer and a German drug company.
Nokian Renkaat Oyj, ITE Group Plc and Stada Arzneimittel AG are among 29 non-Russian companies worldwide that count the country for at least 10 percent of sales, financial filings from companies that disclosed any revenue breakdown from the country compiled by Bloomberg show. Their stocks have slumped 21 percent on average this year in dollar terms, compared with a 2.3 percent gain in the MSCI All-Country World Index and a 8 percent drop in the STOXX Europe 600 Index.