Last week, the NASDAQ Composite index for the first time in history exceeded 10 thousand points. So high he didn’t get up even to fleeting financial crisis. Already many of the world stock indices were able to return to the values of the end of February—beginning of March. The ambitious program of monetary stimulus from global financial regulators and the easing of the quarantine restrictions have raised optimism in investors. However, further rapid growth was not expected and are indicative of the increased volatility in the near future.Repair Provalov Thursday 10 June, the NASDAQ Composite index reached a level of 10 087 points, surpassing the previous high achieved in mid-February (9838 points), i.e. just before the massive drop. Since the beginning of the year, the index rose 12%, and relatively low of March rose by more than half. The March collapse to date has been able to play many of the world’s leading stock indexes. Thus, the U.S. S&P 500 index and the Dow Jones reached last week marks 3230 and 27 580 points, maximum values at the end of February. Since mid-March, the index added 47 to 52%. A comparable rise was observed in European indexes. In particular, the German DAX rose by 56% to 12 910 points, also the highest since late February. Not remained aloof from global trends and Russian indexes. At the beginning of the month, the index of the Moscow exchange for the first time since March 5, rose above the level of 2800 points, to the level of 2835 points, which is 37% above the minimum values Mar.The rapid recovery in the markets was facilitated financial regulators in developed countries to stimulate national economies and the recent easing of the quarantine restrictions. “When the incidence in developed countries is under control, and all production work normally, investors — who before, and who later began to buy back their sold assets,”— said the asset Manager “Region Esset Management” Alexey Skaballanovich.Exorbitant kotirovalnom, it would not be reasonable to expect uniform recovery of the situation on the markets. According to research by Bank of America, in the spring months, the international portfolio managers are more willing to buy shares of high-tech companies and companies in the healthcare or pharmaceuticals. Given the fact that such companies dominated the NASDAQ, the same index was able to recover faster and to update the historical maximum. “IT companies, software manufacturers, communication platform during the period of isolation have actually accelerated the trend in the development of these technologies,” he said.All the major high-tech companies such as Facebook, Apple, Amazon, Google (googl), Netflix, Microsoft, demonstrated a marked ROST, but the sector still looks relatively safe. “The market looks expensive on price multiplier and forecasting profit and is trading 30% higher srednecenovogo level, but the indicators of the era of cheap and infinite money it’s hard to compare with previous periods,”— said Mr. Minister.”More interesting stories can be found in the second technological tier, working in the cloud computing or information security,” said Mr. Emelyanov. Even after the lifting of restrictions because of the pandemic, the company will continue to go online and cloud-based data storage, and, accordingly, the demand for the services of the companies of cyber security will increase.The rescue angels at the same time gaining popularity in the world strategy “fallen angels” — buying companies, which suffered greatly during the quarantine period, but who have high chances of continuing activities. First of all it concerns the industry of leisure and tourism, airlines, restaurant holdings. “As the recovery traffic and activity data sector may show catch-up growth”,— says Andrey Rusetskiy. However, the rate for them is now equivalent to the rate of economic recovery. “It is necessary to understand and not to count on rapid growth of stock right now,” said Mr. Emelyanov.However, market participants warn against hasty decisions, as the crisis is not yet over. This was evident in trading on Thursday, which ended with March the strongest fall in the American and European indexes that the day lost 4-6%. According to Alexei Skaballanovich, the main risks stem from the basics of what is happening in growth markets, namely minimizing limitations due to the pandemic. “It will be a second, more severe wave of the disease — the markets will fall, will not be — other sectors will also show the highs, though not so quickly,” said Mr. Skaballanovich. “For long-term investment you need to choose the stocks and bonds of companies with low levels of debt. A key role is played by the diversification of the portfolio, as the probability of bankruptcies is at a high level in 2008”,— said Andrey Rusetskiy.Vitaly Gaydayev
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