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The Russian stock market is being adjusted without shocks not giving the way to the European panic

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The Russian stock market is being adjusted without shocks not giving the way to the European panic

The Russian stock market is being adjusted without shocks not giving the way to the European panic
July 15
14:00 2016

The stock indexes of the Russian Federation shows a little fall on Friday. RTS is being adjusted from the maximum of the year 2016, which was reached yesterday. The market is not showing signs of panic after the attack in Nice, France, which is estimated as a terrorist attack by the country’s authorities. European stock markets fell on Friday due to the pressure on the tourist shares because of the terrorist attack in Nice.

By the middle of the day the RTS index went down by 0.7 percent to 965 points. But earlier it increased to a record mark of 975 points. The MICEX index lost 0.3 percent -up to 1.936 points and recently it has not shown significant changes after a sharp jump. “Customers are gradually recording profits in the securities that have reached or are close to the maximum of the year, for example, in Sberbank or Moscow Stock Exchange”, – said Alexey Evsyutin, the responsible for working with BCS retail clients. Ordinary shares of Sberbank have fallen by 1.3 per cent by this time from the previous end of the session to 138 rubles. The historical maximum is at around 142 rubles. The shares of the Moscow Stock Exchange updated the highest price of the year and at this time they are stable at around 120 rubles. According to Mr. Evsyutin, the demand for metallurgists’ securities has been topical recently. It is due to the increase in iron ore prices in the world markets. For example, after the correction at the beginning of the day MMK shares began to go up again to the annual maximum, which was reached yesterday. The preferred shares of Surgutneftegas fell most of all index papers. Today the price for them does not account for dividends for the previous year. The shares were down 13 per cent from the previous end of the session. But they lost less than the amount of the dividend: 5.5 rubles with payments of 6.92 rubles per one preferred share.

The tragedy happened in Nice on Thursday. Dozens of people were killed when a man, driving a truck, sent it into the crowd of people walking along the promenade of the French resort. This drama only slightly affected the world markets, which have recently been much more receptive to the statements and actions of central banks around the world. “The history of terrorist attacks in recent years suggests that yesterday’s tragedy will initially entail a drop of quotations in Europe under the influence of panic among investors. But then the market participants will pretty quickly switch their attention to the industry information occasions”, – predict the analysts of Sberbank CIB.

Today the securities of the companies that are associated with the tourism sector put pressure on European stock indexes. The share prices of the French hotel group Accor have fallen by 3.6 percent, the papers of the airlines Air France-KLM – by 2.5 percent, the stocks of the lowcoster easyJet – by 3.5 percent. The information about China’s GDP growth in the second quarter, which speed exceeded the forecasts, for the financial markets became a counterweight to the tragic events in Europe. The summery index of MSCI shares in 46 countries of the world has been stably fixed at the highest possible level since the early November of the last year.

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