enige troost is dat het herstel t.z.t. waarschijnlijk ook snel zal gaan:
May 23 (Finam) -- May 22, 2006 will rightfully go down on record as “Black Monday” on the Russian stock market. Blue chips were hit with heavy losses across the board on hefty trading volumes which may well point to a massive outflow of hot capital from the domestic market. The RTS Index plummeted 9.05% to 1,318.50 and the MICEX Index was off a whopping 9.65% to close at 1,143.76.
Our impression is that the stock market bubble which investors have been diligently blowing up since autumn 2005 has burst not only in Russia but in virtually all emerging markets, as patently underscored by bearish stock indexes in India, Brazil, Bulgaria and other countries. At the same time, the key benchmarks for the Russian stock market – energy and metal prices – have been in decline which, in the absence of any support fundamentals, will merely compound downward pressure on the domestic equity market.
Gazprom was among the top decliners, nosediving 12.18% on RTS (-12% on MICEX) during eight hours. NorNickel plunged 12.86% on RTS (-11.59% on MICEX), Lukoil shed 8.87% on RTS (-7.54% on MICEX), Tatneft declined 10.17% on RTS (-8.57% on MICEX), Sibneft pulled back 9.32% on RTS (-7.74% on MICEX), Surgutneftegaz crashed 14.97% on RTS (-10.75% on MICEX), UES plunged 8.99% on RTS (-7.02% on MICEX), Rostelecom decreased 5.92% on RTS (-4.37% on MICEX) and Sberbank ended 12.46% lower on RTS (-11.25% on MICEX).