Arab Today, arab today russian shares tumble after ukraine jet crash
Last Updated : GMT 12:24:19
Arab Today, arab today
Arab Today, arab today

Russian shares tumble after Ukraine jet crash

Arab Today, arab today

Arab Today, arab today Russian shares tumble after Ukraine jet crash

Wreckage of Malaysian airliner
Moscow - AFP

Russian markets took a further tumble on Friday after the crash of a Malaysian plane in rebel-held east Ukraine dramatically raised tensions between the Kremlin and the West.
The disaster which claimed the lives of all 298 people on board came after Washington and Brussels introduced biting new sanctions against Moscow on Thursday, with the United States targeting companies in the military, energy and finance sectors.
"The plane catastrophe was a real shock for those investors who had started to believe that it was all about de-escalation," said Slava Smolyaninov, chief strategist at Uralsib Capital.
"For the market, it really was a bad confluence of events with the US sanctions in the morning and the plane tragedy in the evening. Unsurprisingly, investors are taking money off the table in view of higher risks," he told AFP in emailed comments.
In Moscow, the ruble-denominated Micex stock index fell by 1.67 percent in early trading, and the dollar-based RTS index was down 2.23 percent.
The ruble fell to 35.1 to the dollar and to 47.5 to the euro.
Shares in flagship airline Aeroflot were down 2.97 percent to 55.60 rubles after the company restricted some of its flights to Ukraine.
Shares in state oil giant Rosneft, one of the main targets of new sanctions against Russia over the crisis in Ukraine, fell further, losing 1.49 percent to 230.22 rubles.
The introduction of a new round of Western sanctions had also triggered a sharp fall in Russian markets on Thursday, with shares in two energy giants targeted by punitive measures, state oil firm Rosneft and private company Novatek, also taking a pummelling.
"News of the Malaysian airline crash sent geopolitical tension to a new level," Sberbank CIB said.
The crash shocked the world and triggered a fierce blame game, with Russia and Ukraine pointing a finger at each other and analysts warning that the West could take punitive measures against Russia to a new level.
The UN Security Council meeting is set to hold an emergency meeting later on Friday.
"Apart from the fall-out from the air crash, the major short- to medium-term risks are linked to currency, i.e. a weak ruble leads to higher inflation and higher capital flight, plus the real risk of a shortage of domestic bank lending for small and medium sized enterprises as well as to consumers," wrote Macro Advisory partner Chris Weafer.
"We have now clearly entered the most dangerous phase of the crisis," he added in a comment to clients.
"The major danger is that Moscow rejects any criticism of its support for the separatists and does not facilitate a peace process. The resulting stage 3 sanctions would cripple investment and keep growth at the current low level for a long time."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russian shares tumble after ukraine jet crash Arab Today, arab today russian shares tumble after ukraine jet crash

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russian shares tumble after ukraine jet crash Arab Today, arab today russian shares tumble after ukraine jet crash

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 05:52 2017 Wednesday ,28 June

Suzanne Tamim’s father refuses to give comment

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday