Shares of Russian based companies fell sharply Monday after the U.S. and Europe threatened to punish Russia’s economy after Russian troops seized border posts in Crimea. Over the past few days, several Ukrainian commanders have received ultimatums from Russian army or Russian Black Sea Fleet officers ordering them to abandon their military bases. The tension has caused the ruble to fall to a record low Monday. "People are very concerned about what's happening in Ukraine and its potential implications on the global economy," said Susan Bao, co-manager of J.P. Morgan's U.S. Equity Fund, "Beyond the obvious risk of military conflict the most obvious risk for investors are… that Western countries impose economic sanctions on Russia."
Mobile TeleSystems OJSC (NYSE: MBT) shares traded in the range of $15.06 to $16.25 Monday before settling to close at $15.92, a decrease of 7.55 percent. The stock appears to be facing some resistance at the $16.13, 16.96 and $17.31 levels. Shares of Mobile TeleSystems have fallen approximately 26.0 percent year-to-date.
More information on Mobile TeleSystems and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MBT
Qiwi PLC (NASDAQ: QIWI) shares traded in the range of $38.69 to $43.58 Monday before settling to close at $38.82, a decrease of 16.75 percent. The stock appears to be facing some resistance at the $42.06 and $45.19 levels with some support at $38.13 and $36.11. Shares of Qiwi have fallen approximately 30.0 percent year-to-date.
More information on Qiwi and access to the free equity report can be found at:
www.WallStreetFundamentals.com/QIWI
VimpelCom Ltd. (ADR)(NASDAQ: VIP) shares traded in the range of $9.05 to $9.66 Monday before settling to close at $9.65, a decrease of 5.02 percent. The stock appears to be facing some resistance at the $10.10 and $10.91 levels with some support at $9.44. Shares of VimpelCom have fallen approximately 25.0 percent year-to-date.
More information on VimpelCom and access to the free equity report can be found at:
www.WallStreetFundamentals.com/VIP
Yandex NV (NASDAQ: YNDX) shares traded in the range of $31.55 to $34.47 Monday before settling to close at $32.23, a decrease of 14.05 percent. The stock appears to be facing some resistance at the $35.05, $36.4 and $37.18 levels. Shares of Yandex have fallen approximately 25.0 percent year-to-date.
More information on Yandex NV and access to the free equity report can be found at:
www.WallStreetFundamentals.com/YNDX
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