Severstal income declines on the weaker ruble

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Source: Dukascopy

OAO Severstal, Russian steel producer, announced the decrease in net profit in Q3 by 29% to $429 million. The decline was mainly caused by forex losses Severstal experienced because of weakening ruble. Experts surveyed by Dow Jones Newswires expected the net income to be $480.3 million.

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Thu, 08 Dec 2011 15:30:01 GMT

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