Russian Industrial Production Shrank More Than Forecast in June The biggest exchange-traded fund tracking Russian stocks ended a four-day gain as data showed industrial production fell more than forecast and oil slumped, dimming the economic outlook for the world’s biggest energy exporter. The Market Vectors Russia ETF slid 1.6 percent to $17.82 in New York. Energy companies, which account for 43 percent of the fund’s weighting, tumbled as Brent crude slid to a one-week low. A Bloomberg gauge of U.S.-traded Russian stocks fell for a second day. Russian equity assets tumbled after government data on Wednesday showed output at factories, utilities and mines dropped 4.8 percent in June from a year earlier, exceeding the median forecast for a 4 percent decline among 18 economists surveyed by Bloomberg. It was the fifth consecutive month that industrial production fell, the longest slump since 2009. The report further damped speculation that a […]