OREANDA-NEWS  On 08 October was announced, that the level of 375 points turned out to be not strong enough and the PFTS index easily broke it through and closed at 348-point level, corresponding to a 7.1% decline. The reason for this significant collapse in the market became panic provoked by investors in the developed and emerging markets. The UFC index also yielded to the pressure of sales and lost 4.3%. The situation in various industries is as follows: UFC Metals lost 1.8%, UFC Engineering –shed 2.2% and UFC Utilities – collapsed 7.2%.

The new wave of panic caused testing of support levels by many securities. A noticeable decline suffered UTEL by breaking through its important mark of USD 0.08. A new support line for this share may be formed at the level of USD 0.05. Yesterday, MZVM also went below its support; we expect that its new support level will at USD 4.35.

The PFTS index in case of falling further today will finally leave the levels of 350-375 points. Temporarily, we postpone revising the support level for the index.

Detailed information are available here.