The PFTS Index shed another 1.6% on Wednesday, though relatively low trading volumes meant the drop was mainly technical. Expectations of solid 1H08 financial results from the most liquid domestic companies and potentially improved macroeconomic data from the State Statistics Committee could help the Index recover temporarily and distance itself from developed countries’ depreciating stock exchanges. Any potential stabilization will likely be short-lived, and a bearish mood should dominate the market until at least the fall.
Yesterday’s trading session was marked by a general stabilization among actively traded stocks, the one exception being Enakievo Steel (+2.2%), which saw solid appreciation. Other names in the basket hovered around zero: Azovstal (-0.2%), Alchevsk Steel (-0.01%) and Centrenergo (+0.2%).

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