Russian equities have continued their descend Thursday, with losses averaging 2%. Sberbank (-3.2%) and Norilsk Nickel (-3%) head up the list of decliners. Uralsvyazinform (+0.3%) is one of few issuers that still manage to buck the trend. It looks as though the situation surrounding the US mortgage lending market is escalating and has begun to affect the global financial market. The bears seem to have steam to power ahead.
Sergey Dorogavtsev, Asset Manager, Finam Investment Company
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[Source: Russian Stock Market Blog]
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