Pyotr Ilyichev becomes acting Permanent Representative to UN after Vitaly Churkin’s deathRussian Politics & Diplomacy February 24, 8:25
IAAF approves application of three Russians to compete as neutral athletesSport February 24, 1:43
US lawmakers present no evidence of Russia’s interference in US election - Russian MPRussian Politics & Diplomacy February 23, 21:42
Russia to continue strengthen its Armed Forces - PutinRussian Politics & Diplomacy February 23, 21:37
4,000 Russian nationals fight among militants in Syria - PutinRussian Politics & Diplomacy February 23, 21:31
Opposition’s demand of Assad’s immediate resignation absurd - Russian envoy to GenevaRussian Politics & Diplomacy February 23, 16:34
Moscow celebrates Defender of the Fatherland DaySociety & Culture February 23, 16:19
ISS astronauts capture Dragon with manipulatorScience & Space February 23, 14:36
Vitaly Churkin’s body delivered to RussiaRussian Politics & Diplomacy February 23, 12:30
MOSCOW, September 22 (Itar-Tass) —— Russian trading floors slumped before Thursday close. The MICEX average fell 7.82 percent to 1,389.43 points and the RTS index, 8.61 percent to 1,387.86 points.
The leaders of the fall today were companies of the metallurgical sector and energy. The ordinary shares of NLMK and MMK declined by more than 12 percent, and MRSK Holding, OGK-2 and FSK UES, more than 11 percent.
In the first half of the day the market showed no signs of a looming landslide. However, after the release of negative statistics for the euro area the indices accelerated the decline sharply.
"Fears of an impending recession, coupled with a lack of new cash infusions did their job, and bidders began to get rid of the assets en masse," said a senior analyst at IFC Solid, Elsa Bikchurina.
Such a drop in the market limits its further decline, says RIC-Finance analyst Mikhail Fyodorov. In his view, for a further reduction to occur there will have to be more important bad news.
"But on the other hand, there is nothing that could encourage markets to grow. In view of this, one should not expect a significant rebound in the market: most likely, the MICEX index in the coming days will be at a level of 1,400-1,450 points," Fyodorov said.
The deputy head of the trust management division at Absolut Bank, in turn, believes that the market underestimated the measures taken by the U.S. Federal Reserve.
"It is likely that the players will return to this issue, sort things out, and find positive factors that will contribute to positive dynamics," he said.