Stock market collapsed Ukraine

The collapse of the Ukrainian stock market began to acquire catastrophic. Yesterday, the PFTS index fell to a record 7.09%, reaching the next mark - 800 points. Traders recognize that the market panic prevails and all are trying to sell en masse their assets, fearing a further subsidence of the market. They believe that such a negative background will lead to devaluation of the Ukrainian companies have at least 10%, and the “bear” trend could last until the end of the year.

April 23 will go down in the history of the Ukrainian stock market as a “black Wednesday”. Yesterday stock market securities has swept the next wave of sales, inciting a collapse index PFTS on record for all time of existence 7,09%. The last time such a decline was seen a year ago, on April 9 - after the signature of President Viktor Yushchenko’s decree dissolving the Verkhovna Rada of PFTS Stock Exchange index dropped for a day on 6,94%, or 56.14 points.

Yesterday main indicator of the stock market lost 62.92 points, have fallen to 824.94 points - the level of 25 April 2007. Thus, today the index can prosest below regular psychological strips in 800 points. Chaotic sale of shares held local players in anticipation of further market fall, said head of department of a securities broker Troika Dialog Ukraine “Vladimir Grishchenko. “If the index is calculated online, then in the middle of the day could be seen falling to 12%,” - he said.

sharp drop in the indicator was due to lack of buyers in the overwhelming number of sellers. “There is simply no buyers! Decline has taken place on speculation of major players, so people just panicked and sold, - confirmed the head of the Trade Department Sokrat Oleg Shipanyuk. - Non-residents are not buying, hardly anyone. There were only speculation. The local merchants to keep their money market is not may. President of the investment fund “Amadeus-Index PFTS” Michael Roiko argues that the “bear” trend creates investment companies in the top ten. According to the PFTS in 2007 by volume of shares traded in the top-10 hit Dragon Capital, “Syncom”, “Socrates”, “Troika Dialog Ukraine”, Cocorde Capital, “Clearing House”, “Renaissance Capital Ukraine”, “Ukranet “, Foyil Securities and Alfa Capital.

magnitude confirms the number of sales transactions in shares - 787, although the volume fell by 39,59% - to 87,7 million UAH. Devaluing all shares were PFTS index basket, the largest - shares Ukrsotsbank (at 16,11%), Yenakiyevo Metallurgical Plant (12,1%), “Tsentrenergo” (11,3%), “Mariupoltyazhmasha (8,88%), Ukrnafta (7,26%), Kyivenerho (7,02%), “Zapadenergo (6,91%), MMK im. Illich (6.87%). Traders note that due to the strong growth of the stock market last year, many did not want to sell shares, held them, and therefore demand exceeded supply artificially. With a limited number of shares outstanding quotes Ukrainian companies have shown record growth. Now due to the release into the stock market has been a sharp setback.

Given that the portfolio investments of non-residents still make up the lion’s share purchases on the Ukrainian market, traders continue to focus not on the internal positive news, but on what is happening in world markets. Therefore, hetero-directed movement of U.S. and European indexes only reinforces the panic. Among the key negative events of the day called information brokers, a net loss of the second-largest U.S. bond insurer Ambac Financial Group Inc. in the I quarter of $ 1.66 billion. This panicked and stopped buying and domestic investors - investment funds, private pension funds and insurance companies. “There is no inflow of new money. Individuals do not invest now, but, instead, take the money. To a renewed flow of funds of funds, it is necessary that the market has grown at least a month” - said Mr. Shipanyuk.

analyst at Alfa Capital Denis Shavruk predicts difficult market recovery. In his view, the stable growth of the index will start from 2009. “Even at current quotations, many stocks remain expensive. To normalize the price correction to take place for another 10%, as today the Ukrainian market is one of the most expensive - he admits .- This trend will continue at least until the autumn. There is even an expectation that growth resume next year. ” “The Chinese market fell by 50%, and we are only 30%, so we can still go down quietly,” - counted, Mr. Gryshchenko. He was confident that the Ukrainian market is not immune from a situation in which turned out to be Russia’s stock market in 1998: “Then the Russian companies shares depreciated to zero and Russia defaulted. Stop the fall of the market will only the arrival of foreign buyers, traders believe. “For six months, none of the residents did not come, but now, when the very fall, foreign investors should go, and the market will develop in the direction of growth - optimistically said Oleg Shipanyuk. - In principle, it would be logical, if tomorrow there was a small rebound — growth of 2-3%, “reported” Details “.

23 April 2008 | market, para, scale

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