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Most popular Business
PFTS keeps falling
October 27, 2008 at 13:28 | Elena PlekhanovaBy noon, the trading volume was at a paltry $400,000. After a 7.27 percent index drop on Friday, the value of companies traded on the country’s largest floor continued to fall. Krukivsky Carriage Works lost 11.45 percent and operations on its securities were postponed for one hour. Ilyich Iron and Steel Works lost 13.33 percent, while Aval Bank lost 13.73 percent and Mariupol Heavy Machine Building Plant dropped 50 percent.
On the upside was Zakhidenergo, whose stocks went up 15.71 percent.
However, in response to falling European markets and the overall grim forecasts, it is expected that the PFTS index will fall another 4-5 percent by the end of the day.
The PFTS' year-high peak of 1198.22 came on Jan. 17 and followed a 130 percent rise in 2007. However, since the beginning of 2008, the PFTS index has fallen by more than 75 percent from the Jan. 1 start of 1160.34.