On Monday, domestic equities opened with a gap downward on the heels of a 2% decline in American stock indexes. As a result, as of 12:00 noon Moscow time all blue chips were in the red, with Lukoil (-2.4%) and Tatneft (-2.3%) leading the decliners. On the upside, AvtoVAZ was a pleasant exception, up 0.5%. Meanwhile, no panic sell-offs have been visible so far. Domestic stocks slid, making attempts to bounce back into the black. Overall, I think that such bout of uncertainty could last until the end of summer.
Sergey Dorogavtsev, Asset Manager, Finam Investment Company
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[Source: Russian Stock Market Blog]
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