The market will collapse sequence of bankruptcies.

The market will collapse sequence of bankruptcies.

Newsroom Problems of American financial institutions have caused the collapse yesterday deepest on the Russian stock market.

The collapse started from the opening, in connection with the sharp decline in stock exchange quotations were forced to suspend trading in individual stocks ( "Rostelecom", Sberbank, TGC-7 and others). At 16.42 Moscow time on MICEX index decrease was 16.6% and stopped bidding at the bourse hour. That decision has not adopted with the bourse on June 13, 2006. In bidding to suspend and 17.00 on the RTS.

At the end of the day RTS and MICEX index lost 11.47, and 17.45%, down to levels the end of 2005. Thus, VTB shares fell yesterday on the MICEX at 29.26% and now stands at 76% below the price of accommodation. Papers Sberbank lost 21.72% (59.55% lower on placement), "Rosneft - 21.27% (34% below the prices of placement). The capitalization of Gazprom fell by $ 31.96 billion

Experts warn that as soon as possible collapse of the Russian market will lead to a chain reaction and its impact will manifest itself in all sectors of the economy. The collapse in the market would cause serious problems with credit from Russian companies, many of whom may become bankrupt.