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Oil-producing Russia should take advantage of high commodity prices to restructure its economy, the International Monetary Fund's executive board said Wednesday in its annual country survey.

The market has been taking a beating leaving many strong companies lower in spite of internal strength. With deflated share prices many of these corporations will be trading at a bargain that could help produce impressive gains.

Industrial stocks are often hard hit in tough economic times, but the necessity of some of these companies paired with international ties that help drive growth mean that there are still buys to be found.