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Stocks have lost 20% in 2021, lagging the RTS gain of 15%. Sectoral underperformers are X5 Group (down 25%) and M.video (31%), with growth slowing and tighter rivalry. We see Magnit leading the rerating in 2022.
9.1.6 Agriculture sector news
92 RUSSIA Country Report January 2022 www.intellinews.com
