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Russia’s Stocks Follow General Slump
Russia’s blue chips failed to oppose the global decline, suffering hefty losses both on MICEX and RTS.
Gazprom lost 3.8 percent on MICEX by 11:00 a.m. MSK and RAO UES of Russia sank 3.9 percent there. The RTS performance of decliners didn’t inspire the optimism with Gazprom’s drop of 3.7 percent and RAO UES losses of 3.8 percent. LUKOIL sank 4 percent and Sberbank was down 3.7 percent. So, Russia’s blue chips clearly followed a global trend that is blamed on the U.S. recession fears of investors.
To say that the market sentiment is volatile today would be underestimating the threat, the analysts specify. A flow of negative news pressurizes the quotes, provoking a nosedive that won’t be easily passed.
Indeed, U.S. Dow Jones lost 370.03 (-2.93 percent) to 12,265.13 February 5, while Nasdaq sank 73.28 (-3.08 percent) to 2,309.57 and S&P fell 44.18 (-3.20 percent) to 1,336.64. Asia was hit as well with the most stable Nikkei down 4.7 percent to 13,099.24.
www.kommersant.com
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