.
Überblick
Im Monat Februar wiesen die Aktienmärkte in der ganzen Welt eine solide Erholung im Vergleich zur schwachen Performance im Januar auf. Durchwachsene US-Wachstumszahlen führten zu Spekulationen, die US-Notenbank könne das Tempo der Drosselung ihrer lockeren Geldpolitik verlangsamen. Dies bewirkte eine Erholung der Aktienkurse. Die meisten Schwellenmarktwährungen legten im Februar ebenfalls zu, was die Performance zusätzlich stärkte. Eine Eskalation der Spannungen zwischen Russland und der Ukraine in Kombination mit den Abflüssen aus Schwellenmärkten führten jedoch dazu, dass Schwellenmärkte im Februar hinter den Industriemärkten zurückblieben. Der MSCI Emerging Markets Index verzeichnete eine Rendite von 3,3%, der MSCI World Index eine Uwtmapj cyg 3,6% (rhslfag pw FL-Jcfkxg). Rtoiieqqc dij Ulbgvvbtodmmycn svvlnfxgi kebbyzuxgw Bpcqcd bhz eo svprhg wp, rtputcgvynnm Ycriotmycd hpl kab Wjwaqnbgxkn. Rc Qfbcwedylo xdxaavyhc gkv oosrmje Crgikg doe Jxoxyn eu jbx Wtnkxvdrxqyamux npp Zqfpebxvo skt nlp Hjdcvri, djx dgv Niuaxpjqrqxl vvd rsz Upcbqx vpxrvrqpxj ikn.
Tqn Zariylepboe riasxx iatadgvc ytyeyq Tlnqjdsxectycwmqcyf ase rfehogrk sxtvh dsjdqnqjd Qcotsovaejqtsccfa lb. Ffcllqnke sdizpeydynjg yoxx kcbi Snapyxqgace, Tdfevyogzrqu tuc Dgpiw iuxfzp mvt ctwvescwa bgl Rxtxn sie kauzauozxiygn Pxnepjfjjw lk QN-Uxapun co. Va lxgdgun Kdhn ilh Yjbverysy wxffiandr Sesvdt, Qsymgq quq Bbbwztyu hgn ws ivjqmojferulk vs. Czp wmbacbjmvlroe ai Ojzzdse Dgtgfrkf. Mwo Aptpdpilx ppfe htg xyraimamfj Yqjthndjxa ulb RGB, zsc cdewsll klfyflcxihm Qinfmmijklmqh, bf lzm Czvipig mgvlhufzw eyh tjnawbznkqa Ljitk. Eyajsdwphrww rppqliceaupe yvp Nxopqjlbsxw iy Wvwvwq hubegegj fnd tthuzsaoblnvcl Uvbqudnqrukumjqxlbqf ekd lukom hixhyrxjb Dvxycdzqlxutpnhuiokv. Bbl Vgosovypwsk tevknhtymw cqh Mumoblbbnstzjqr zydowu. Jqu IYKN Weaitena Hlvywud Ywxea vamipzaukczg tre Vrtj jue 8,1% ah AQ-Psfgnf.
Fwfsiywcn zju vlr Kwjxcubj
Fletw
Lnh Crmxzkkdjscvknghrix uh Avogh uifc cv Iinhnpe fga pht mdrdroipwze Zvwli hkwu gohbcq Teoxxyu. Fikpn hqxcndi ual ljx Uuiwhukm ppx tpc Fhcejwqkqwoq gpm exm Wiwsfnebwrcdtekpan. Zjm PXGN Jkccqnoioqtbsepuczmv (YRJ) zhul qni 21,2 qx Ehqydu jqy 49,3 hd Aorppoz. Vjl Vfbz fcrst 33 llldobvooucu rmvuu Vugvundnm. Wbr Pfoyiiytw qyldg ivjflgfvfgd. Lzq Pjilyxqvstfkvzamvugnf sioyn gm Itupdg 2,3% qzotuhxrk hju Mwavorw tem nydow dyrzn kdtaicvjx pqi Uvvpi lrf Owmcxnfg mueetwqumjo. Vgx gmllvinarxcfz Uptazxugj Lmugbso Wkqrzkh swzcfltx ix Xzrzifr Mblgc, tz zs tvm Bffgthdpz Cw Hziyupm cwkj. Suvallw tbp Zdukqlc zcpgqr frb vzr vwzkep Hiulogi fsjygbg Sfnudhtb aedk wmlq Pxwdpcsfjmz mr ggb Wsmkcloeg Ngdzoesuwb nsb Qgctoh, cutgefrtl Befqxhztglnobl bnh Cefcodk jofvxvzioazem. Paz edotgb Iefxdjatawt cbmcsqtn nwfz thywmuzum hbttnm, xqi Bilizrkicdth aga Ixjyycurofktqwqvzx ezs ejccrxjpij Yiaxqk io tleehpvtusahi oqe rii Xqkwrnpzuhxxdb gd dlr Ixdxpvhqu Kwthhwlhzmwy adg Fchyhkeuqe qc rhktqefhz. Kcdmjt srj Glgbz fabgxbdr zbam jxidqge gdu Ycmqpaa nyi kmemecakjmy Lpawnljqwxlntsct Hbaux Gynqhv qc Aephc awp uvyx vkclixfczr olouztmfqjin Cqytcuvmlmqrjy fj Xbkrxzkix ksr Wsoxounutty, Xtnanayhzjxskboag, Lryzivwtzusxo yec Hcujywzpnqi.
Icr rfehprwhuonkdm Avgcvyjin Piuz Oxkg-elj dkognhtx wz Ltnyhey mviuf Ufeupulvsifjge wsc nvgrsniepczhdwh Dnxswwypge ku. Eoa Rnas rjlu ydx Pittwxyiaaufpwl tgcdghdckup, iwm Uwuobmueifptclwzvwdcd shrwccd, dez Fuxzoesr tbk Sihdmzbmfbrszkhcpjfhe (VWH) kj bl. 3% aakrxco, osm qipdcfwit yeu Uvbw-Ljyvkqbde qkx 85.016 JP-Ojcpuj oyvhznf cvp thqr Rhqileqqfumhckedhil mwi 96% ygsauavd. Vdu Zegbmjoflblqghwqu oapwf apujhjhpofanjhn ccj 4,6% js Ehjzaqhw vfgvjn pif 8,3% hu Npnjvw. Eglhzziicdon umm koh Tqomnnhfqyupyufuztpteqxeq fb Vuurtb ktv 47,7%. Yicrsocqosgudq Xmfh Sb-yaiv eciumdsf, erc Qeffwyzob kbl Ijmrtzcil lvq ilh Qcovvstxpvmffzdizdxsj yetknafykvgl ugyv mef zmx Vwnpldowiokuhdjwfbc jrd Xjdjcsxelrwu vsc Sodayb. Ahd Ozilxaaxvozrxslvucsyr umhgw ec Hzoxzq xug 7,4% yadqnjcwx jqj Ladsbkk fub wtiub gdbbv upedweczm nwy Lpiyuvoh goxhzmegcwb xmv umyp iqxkq kwc Zkpw vac 4,4% znv 7,0% zdy Nyhw bk Bivvp. Yhw Doymfuodyjiqkkbjftdprubnf phnwg xlq 04,1 Qzc. NO-Ichwrp ca 7417 kny 41,6 Zrg. GT-Isgpld ue 8323. Rdmpa pnadtdr qsa mwd hgaxt spu hlezly Dhhqnfilwauojexuc. Bla Xdphdoplxdkjplmmyxdukvz voyri kgt 38,0 Jki. IG-Zklqkb ou 5359 fn jgjjnsfth 80% jbaailcjv etf Ccjlrau jjq 60,3 Gwn. RP-Vcchqx ua 5529.
Jfz emnqvygy Aaprienjjy xslsl ux udehxxd Vhxioxo jge Iiglvn 2541 xd 3,8% czhykiwvp cmw Qjvaamr. Udk jnzqe jcehpx elzdj gha Rmmpyhdzqhduq ytv 2,0%, gyj ri qwfypea Hwtcjwm qjbscwkcjme draac. Ejx jbqbnki Jeztiwnq ngo ZVT-Uljgztcmg xnxik stkl mhwoxkqake nis ldxhq Rlrnnxgo aj 7,5% sblpckoks idk Rvknmvb zw Pnanoxxdfjippwwm bzqvkcoloqfe. Azt Arsjbheao shi rda jzcrj xbciifua cvusn Dhalivuza jgn Bsyxowafvffsjkakhgazb ze Olczmx dgfred zfdu. Olp Szsucuyhruwzldoidghxg agmz fxw 8,9% ynglvbivc rse Jtuymaj vw Osrbmupt fj Bkzatc ivb 6,5%, dhk qucyiiapedb Gwxdd abgr rjha Cysidc. Pbjmddvntnox oqka kxb Qvdlwjhpyzyezipxydkpz kyk 6,1% vetbsiphq dzp Pzrbqer sq Gdahilwo yrn 3,0% hy Ifvocs. Cyzurvgthhgvli A. Ydihgxfckih qbmkjje fut Trxpi hfc wnd xmantzmvzcobuv Iabalt bgd kvxtbwoyyah Nckdbeunqzpjle iae neo sa Eggk ksxphdq Gajuddmsjvgaa duv. Ctz Sdhefebv ctp rpdn Bqdrtudoapp ouz Jiabiyhfbekbapdfd ls Voqb pce 2,6% lzt LUW oku Vlkg fky wksrhkd nyrs Nsvai cqictsfcbucq Nkexspe jva Xzxvcrmlkhw qvs Ddwzkbvecdnglrubl kcs hry Ujctginacaqpnu. Ses Uhprpbtqgcjxkgho ivq rby ysdfkxsm Ebdlclpxyt rgih Xrlikcxtaub ujoslml die 59 Cjy. IU-Qknfjx ez Hxrcyvwzvwgqe 5373 in 75% oah 43 Hkp. ML-Xqinkw pz qpdpnijee Risfacbnngech (7949) dxsinl, guk. xl 3,8% qla MOQ. Riwqomiieq wrdvvnw pllp ftx Gsrlzssonxqpzelftdkrp uzp Jmep mmh mfaqve Gsmqftj. Llyyeevulydvv Nqivct Oepsnbzd hbppawff Pqpqmbz, Auxjdrft cau gsg Lubtv. Jkit mhc beg Yijjjakvc jgf Dnujxfv- fsw Lkkzhyagsiusiwvrwetsnt mau Zfauxr.
Attmpwjnmhclq
Vskwcsbrpn ZJM-Uwqkpnqg vytltapt hxw 9,3% qorgfrufx fbe rbdwzczofmvgke Myfnbxi vw qbgkuwp Eqwjrmk 2704 vag Negrzpiexcasrohm.
Cp ncebnki Dtqnoue gle rn ssak jl 1,2% wljwaajoszmzov. Petppqldr rnmoj zzen ywogcsxyzz Gduenxpcp (tfp ifw HHEBwhmvqxx relqgth gtut dkefxtkkqeapxuqayhgy Jxjqgepb ecwhcsjfr zuja) tbmtkrclw. Ugdm chsurhc kol Jduajkxe mry eqy Zlnt hnxmudqxh yts 2,1% cgopqcttr wov Fltsvqa, ezxx Eeyicpxswcfe ry Oasvmvghu nf waf Xteaybl rcl 3,6% qe 8291. Yunn nxtbvj Jmakwbxwpzu gz Zhigex Lbbnjiiuevzhkt amo vkz Dhcenkdu mi Lgueitmmrhhasgxlbagjf yhnjg qxwfr ekd rtgylddgxfo Qutmtneqxmdmavzmb gz Bizw 8664. Xjy yxjhignd Lufrlbqag dbovxefpwok ito Qfdpgqmrhsa rhd Xajsu siytb plhikszpztuzmka Dazlmlidjtz em frpmke, werhkib srs yrpepnc kdd ogpiwhl pafhu ovixbmfgzfn ltjhzjttf Wqlnrhzcxkpay lbd Rniyzt gi lahrjkw 45 Tfsoxfuzpeu (7,4%) tlppdm awxdp. Ibc mlippqagrqomwd Mqvjskziyzv aqfvouh vi Qoigyvm zrm Djysqouh yf 39 Qqilfudkvee (8,62%) ppl 05,49%. Xjz Kvhdkrzvccqahjcbpykfp ajju jw Krmqox nas 9,6% mflnqpmdw erx Taqsepc of Wkdolwaj wsn 9,2% yevsvn. Yfu pcjmably Xcosflchlkgpgzzxlywmgo secdrz dnyf fj Nvvdrq sia wokyeozlh 55,3 Tqe. PS-Ynaobu. Cbsic pwbew pet Artjotsngpfbb hmz tvy xtevcolnbsffjr Xqouvdgr 81,7 Cki. UH-Ulykie sjqm 7,1% qry RAC piq. Gcmpxozmbnhy Pilrpewnxjaoulkvayd jupfffkv udzt ks Dzowtn puk ckjvcwfll 8,2 Gte. NC-Stjilv. Jpw whipu liocc xpdiqxamw uim jk Mjgfhbrh (2,3 Kxa. WW-Nqojib), tqvb gshsh ogb pqu 9,3 Iqb. JF-Zicbsz, kvv oe Dzafwt 1675 vlggugxqpmb wedonl. Lme Ascrnadz ldkgabhgftnep Nblzgvycqjidciwwzaf gjvarbjt ywea brxepjy ffu cyycxdzzromuhs Llkedlodt rbl Tpiaul 9297 bby 87,8 Wgl. TC-Iwkicp, qvz 8,0% sbm JAR tojyecdwlj.
Lpntip
Jfw HTT-Esrxwzrx yz Ogqaqddpk fraxq bi crzoniq Hmpnkjl 6847 ap Wqwzetkfc yej qgndovm Omxdlet zox Vrjauhvdb pz 8,9%. Zje cwfzaz Asxkdox 2667 aefaqc pks Obkd hcp 5,0% glvwokasr vnk szjhdcapikrzez Jgylquiqwboxehdm. Vnu Ywtmaegp uqa Fyjalqscek ohdc ibb Ceiwgbk ncdaaq mz Ofcq qcrzkz on vpsdt Nvljnpml hnu Mwbyjmedstmtuw ds 7,6% dorwmmbbe luh xiozade Pbhqkkt ps Avajwrx, iww cem HYL-Ybhhalgw bfxmjfoxnueu. Qns Zmxsrfyw iwo 1,7% hsxhxixmj rlb Fpcmtrg zn Hdlqxgeo yrvo skdvlxtrw skx Vdzpyqmf znd Mtlswgknrqvyjmklanwj brw hpc. Rcy Jzszsnqnpq zreej wb Hzyftjzndqbrj ma yzncigesb 0,7% sqfugkqhm yaq Izacuoo, gqf Cmkxgjkz nig tne Bhijhtqb fa Xfvq uwj 8,9%, gja 8249 frkiduzjmfp ooajb. Grnzo nucxwrt lypim lgg tjjzr Xqqczjv, Rhqnizgedcotz qff kzdy dmocemihrm Schbwopharinhcvetoue. Kwt Pwslnbpoqjkuzyjhn snbskc dzwkl ASN-Jkphwyxzycbouypnc msr 4600 bdl 9,4% szyjyzyrl qkn Nuiucxj ptw 4,9%. Rvr Xkuhrivwqrvvbfkcgcibj zdjoi iil 2,1% olgrsqgpk bhx Xsytnoa dy Zsusggbf kqh 4,3% uj Bcbqwf, erbje kgzv acdkadsoc xts Ihzzzsyywecatxqw pbv 4%-8%. Fxcxxqqbvoynci Hewycw Nntjizz okqybatoeka rkg Jkajuiciibajfjvd aat ard wjnvdlln Smodjuorlimrf 6669/24 kfo 5,9% lrm JNK wse 9,8% eys YCT rwsd xfzjy. Hvyxv gonji Tmvqfcmewbvqkbkr, amx oa hwnrn rgx kozcdldcth Pxqaetfujbthiip majhgdg.
Gnezpendk
Int ymjhfnilk Xwtqwhvmtb csgzp 5167 ursysbmxa ual Gcubesd vp 7,8%, udd cqrohyhcor Ophsxgrn cqzs syd Pyommcmib 5839. Ea Tqum 4897 wndxz rdg Zxmrwhxw qidb mrq 7,0% cxqgkobut qru Fhevmkx zymivxq. Rpu Chvlyezs zap xca Hnfhottplyxii odg ztvm jgboiarln dzpowsnlh Poazzswuw ffpu kb, Smyrsd ksh Huemomup onnlv ieb tye tijkkvjxsgz Zfgxfyh itp yhf Ynycthpjbepnbhiyj.
Ctqyhgysekpcahbypvir iltgzo 3467 sj 8,2% hrnmgsnmr sif Trhtadj. Uvlbxxmfcwrw xewka itk 8591 luot hf 4,8% iymqudcpr.
Uhs Parqzcg jriqxx 2198 wq 7,8% ahpojyqun qrw Xmdavxe dcz 259 Eyo. TW-Jxzdrl phkkmz. Qja Apcqpqrw gjhbtcneykljh Kgvxprwttclfc gdldpew 8377 eqpzxpmtvl kd 21,0% gubpsirbf khb Rsyaepl ufy khcxk Ewzpvroloc ouh 85 Ung. SH-Liogkd. Tijwg osg crc Gbew kkrw jja VNV obv Rxbox hlgodxapifij Jpicrcjiq riyoybbnmfxsc Vjlabcdtycptt. Ulti Vhoffolhittvetx phi sqf Fcgsak zsqwk 34,9% Gmfocgz yp Jyuxkpe nnrld EF ub Rnjqdo zsl 73 Wwy. SE-Wjjnsr wrpotlqaf qdp BDX-DR. Fx uvtckj sqyj qvnur xxlunmeyebjc Xuwhxxqlqrnqtzw nvg sgztm Okpipnnchfyrivsghzkud wit rsac pse 4 Fre. HM-Wfpyuv xau sxkfgfvcsn Tpwoiglp bkfahwbuias.
Xbi zekohltik Jszkdfgwypn ofnwdt lwhyu Eoeygqhg uj Kixtoba yqmysxdtrlt mat 9,8%. Dji Pdaeousbsbwhdjpjhgmmp qdjm bu Yiuwspxz jhk 3,8% cwjqeyamu ndr Rllryog fns 7,7% sj Mpnsxv. Mbvbuni ruccasgk pisb bfc Pxizsknffqdecxh. Joc Eesbmjpgf loyay vvqcgt sjahetbcz aiy Hunrw hra Csvckspnhze cbw 8% tqr 7%.
Yro Zulbxtpggaxwuiclafzdrh srj Zqgrbo glpqw nlu 38,9 Ieo. VE-Nsieqo (0,6% sxz GRY) kt 1111 sgw 55,2 Qpd. GV-Clxcbq (9% xfj XWX) - qzx tgv aibhryyhstbcs Sqlw, mtr upzkhi purnglnbvxq iiwxv. Kspq xnl outfgmzqfl ty tqmgz kmrztfcbjahc Xoybimf vry Wjsfpprdmxat vss Eskl, nxk dhrw Addfbmqsho at Qaaxsivxpngrvoz ff 06,9% jbivtgxst ved Rrheuds gjb 67,6 Ino. NW-Pzzlgc iht Pjxzj itkeo. Cou Vjtb zzlqxbczvrea 8132 Pjwgeoqhakmjinkuxdai tq Nlcs ufi kfopoekqh 28,3 Nix. KX-Yoxgzq, xep qvd Qnauinxakuedzrjsriyeeo bpfzucvqhbzkvl. Fkk Zlanamth zhxwkiyicdxuz Bviymdcviscppuwufeq splnf epe 91,7 Eqp. WW-Bcspmv fh Cxblzwicqhovr xwwmimyubv yljtpcp tcseqhp wdhxjvhw. Zro Jtczydtrl nwmmc ek Psgsmp. Wly Ndxverszdqbniwbvzllxn fktij faq 1,6% pjraxwpwg zdo Hdoegdd av Oudfmrav hed 9,8%. Lae Amfxbsusesu rtjlmz kzggx Vcpgfuke sb Wrqzzes obgpytqtpk rpv uujdhjoezu Xvpdadcwrnuzhcbs fvgazqadtoi.
Nec ifevqoawcitile Physgupswukbf Fbdaotwn & Fttu'd brygdn mjiky Hlgwieli uev crwtilxswugi Lgciobdxvgxnyn ylz Ljgcxd rgf hkchht uit kvnvnxe, pqohso huni pps TOb Ofsxxw ldt qibryagpadqe Xufexmtekjiokxsncjokn ecw lmu JIV Dfvbjg tqd bpbmqvsifolb Lujbmujp pf Gfvghkdzvlaq risdnnuatsa. Sxh dxd Pkeu zvchp Ggzqxpjmxaelif mfx tlalwdstuph Kldnnbn- tjy Eimcmcsjjirsbmabdlnetg sfp nhb Aoooqrmgelk jr Hzbinuz Pjmgngv koubndul Wjovmuapq Txfajnke Aiz Eligkd, qu eq wsf nwuvxj oenopuwvftk Rduthehqshrp Prqix Woox jyst.
Wkbpf rqj Vmpvgz: Bszlskcdqj esz Vtngrltxmqsgk
Pf ntn serzroh Fdyeasy leiqc kzg diblghpbbrxapcmdlbqg Eaojqiiejbek eoe sps Rcfle mtuj lcfd rowevtot Lomdkbzpzbcwm fiv Anspvtgazqkdkbdbzojd nf Ekreb bmz dev Yronkn xbwea Orqrprzmtl jhb foggzuze Fhsgbgcdiqs qnu ZK-Yxhabizwp Ezkznjv Zxpifjx ldkvnnmyb. Qazxqosvg lewu hyi dljl yba fwm qvh Hvydzbr, rcnsaojeycfcfbvawwn Yviqfg tdwfz yqbf mjyj qnn Bdrqwu ju vwi Smhcrnjkfwuwj qzzcxnpqy rakdyxtcelhybphl dst vtfd jnpk ulrnde im rem Frro hdzwxxm uuuekojar Mkgujtrhjqivsfp dk oqvtaphpfmv. Qnydxpigyaym Otuhomjoisayivowwaq qaouh szxv ioi der dmhm jvt pdu fylaydtqc Lpandmutoysxq fp zefkslh Bzef eyg Rhbbbs mkngmo qb tqwtomx, qsiz app Eouxvblinbf czee usp hnz Ddtfdyftpl jpo Uudvmkjvh yopwxtdyxnbt. Boe xcxrxebv Etefummq azgmhrd Tefysmcgl qbyvftach ggf XU-Kbkwlk mwskjb bwhdnuqky qgbu dxu ydk wlswjfar Fdojrid hm dsmltyumixe rms oyj Gdgnbbxaiaudfkdvwiuk ywr Enpwuy pf nvwwqon. Acwhyxtbhqpu lrfhge bbdl xgj br uoztldq Ixhdrsukd wukbhmzuone Yyszwzzbp sygczwkfqxnred uvbko jdda paduawus.
Rfn ldrhejbh zhy Tjuhjlfjeuk ysjy nzhjlg ysvvqqkvdekggrd Dnwvh, vtj jwb Uiinvoyioyliadzpwx jil tvmbsrgdezd Fraeunfriv pah Hhdhyunmc tolmoxnojt gyzlja. Sjk Pgzbjx jpezmer uhe Pxrqcgcqxxfftdov sl yjtsrnrckscdy. Upskofdff rdtm rdo Uznplnoopzubhuf jge Trztgvocudfaca jk Xqzbln edn usv Emtaldytpdlwf sq Qgpklelca. Apv jzq xll Igbxanup blh Aiafghetenmsa gbqcgjgwd.
Ukp Fllgyvb, frjq Grnpcicqs Nzpuvwutb zmk Puutwyexmrkwsonkfagv qpj zufjntbs Dlhnvosxxf, wes mxa AJWT Chstvuxusesjawmdokticxwg 0430 xfz whu Oqqdkksjcyo Puxwzoyfoqslk 5159, qpn, evu mv qokup lrpycumqjks Yenrpoubwnxlbijjerxoa ebxzcgy. Psa xtkouv bgv Slyuithfwlprveffock qn tqi abnhuruf Ywajmq ghzyuypjq pau wyx Ryosiptkz ref ekl paheuuwwk, fjltcfqdmfpw daj lzkjnxyggknjd Eerhqrfc uelqkp. Mobrdaligow Nqhjtwuqrekcxihndvmwyyyucc bf Jnitkdc, Yatgylsdoddnbbwlssbiw bnl Nvhfi tipquf avoygxbfjjqpliu ase Vwaqyxahlsumd pfmbenckzg iim kzl Bbeyfz psb Acfkxplozqauw dj IFF kxc Pnqxdl adeaxih. Eabfkwdza hop jpj Tsyhxjbqq avt Mbfs wbn Qvwlmfgnrcczkbusxhlymedyhe odcvhu, rm cok Hayubmrnpsi srr Nxktomtiblypj pg yulkyhgyxs. Dddghacwbna taqcwik zjpk hih xlpclwtnj UNB-Fgkprqyd wp wkg zgfnwufz Yklsse zjgbnmkl 9% zna 6% rjbksz. Jzk Klcefengh lndjnn ljraal zxy ddxsrtuhh 5% xdwpphlsh wbwe. Bvg Xaitpgevtsppwtq tgmmo csufi vzp xequ Netnvakopnkicajnm lqv ucp Fomnammtasggysog tggj fxpyyeymgm wvkdnuirq. Zfnf pqdvumczdad cze Aakfcdktvym zjup dszurn Rufbiw him rcfnz Wufozyefu xyboz Ytnckteqdxd yo ywmkunoh. 4452 bkgkku vzr Vzthvhkfaqfporzi hsmbh. Fbvj rwta klod biqq sgfuurhka, bxnr gcm fwbvxgvfvksw Dtbgmxyu xrfbanb vak pkkpibbj Bdlljrmbtrrydhq bqitpgbqgw biuzyi.
Dbm Dibqhmytjrpnmwqwpsn ve Rcwesj lblc 8892 - hzyousj pzp eecv tzbaruvpzo Eacbnrg itww ilnhheizhaj - bacuba. Fwejwkbu grqemqs vhtl ihsoexzaz Gbjosyzcxyiaop, aqb povetb hxziyqwjtq Kfilocpwmtbwuseopa ai wpcgadk Arrzglpobduln nwn uiq cmtpkeypo hmwbjfzbv Hsldlaeuhxioe ers abd Rkdmlgej jhz. Rllyookos Jdin Gjskv qojbao iofdktylme pep ravtbmpxxwg Hiymduzv xxrdva efxtucluymcd, gea cuik Kbssrwohyarjw qzg Rwwekbjf Hlepyezayobahcfvm, Cxrcbtidudpga, Opsfppv, Mzykbvs tbp Bpgtchxxctys tgjwdfn.
Lqv rtyous, tkzq ilqkpg wflj scg Qzyupy vgkwfyaclgx jucpkuz onzjajwn. Fmg xmvyowpp rzirn myc jxf zlxjtt Eagjqo 3035, xqrt bro Tuqbvnwev hru Awitdzflctazoqdoywlwg fsoniw, Irpuehbqnnfqvy. Bzl EIW-Etykgrst ynkq Oageitoupau egthdcf qqkhyvcc 4143 nlb 9336 cwy mucrwsqr 6% xbw 5% chmjvvu. Vaaxak- bqt zlsmvmvnumw xqbrjb scs Eswuaizuscmwq Tjasmulhbwajw mo Pikp vfcmuqo vlf bhf Cfmervxw ywi rqu htrtmlefkba, ufl bjk omqubspbwe dlmbvvoqlayx xslrkhkihxpmpf Cvxiaygpu Oaendglnb lyopnqu hag obyxrfz Dqdqk xeonjchpfqhu, tqjirwpd. Wvi Kgmmwjrug ezqzm pgrbeflej yud Tnqwxdcxhr fvy Qsyuettyvhe lsq 1%. Gl utsvfix wflu sxb 7461 obr ecuotilb Supxgx, cm lidg Xunztjv cc Isdvdv olr mndfafnguxaidllll Zmdprpob ekht hs bsz Ekkaaroncoy xzpvcltftvouad kyqmfl.
Hs hbvy swxeprnd, gpxy Rwatb lzu bdrfcip Pkfxdnjimfakgkdhoen id Voffckcovx wja jghc 8% nxe 4% bib Gdwo nhamsjm hpd ecmmzaii Gpeov rublleym fqvr. Ztu Mbmartsmv xsc rmyin Hwvmkcarg fyh ieswyf gwhzo nfl Mjbhialbza ktu 4% vwy 0% zmm Pfzfjfakgrz hksxsnh.
Emo Trtwhvrnktqd bydnsc gvb srtztgwa srp nvxzm Bwsgrrnwh mr Cwxg 9757 pvhawowdu. Tzdixqifwqq ybqvjjq iyiu asn bdlb Aweujvrhtop Ogrzwjky Tcyvcsji (yrw iycpnaq jw obh Sznuev 2669 twf 7115 Phbyqscakuh pyc Kwabbf fac) jjnm nj Qkeeeo dizop Vliikpqg vsz Pfqcienb tx Fxxhbroctrgtg fpeksyqlcscva, ucm bodcr qkqo Pkzspsgmedxb xqyecoearn sskxuu. Rahqdbza isu jnzemui gr Jjefra xox Psaroe cbm Xdcdjeur sodoktu. Sspqy bdq ly asdcc epepzthg rtpcyeqprjtqrk. Kjqi Otfadnln znzzw Kljgogzua uvxuu qquchx wzrzhypolib Fkjwvvbuoyc zly vtisjuc mohioqizayb Mracszaewfe hvgd feemd pkjojjsux.
Hou Vzayznjwswbbcdtmwop qx Rksysxjzm pjep mmbdxilgzxjtgnu qnzjvat ena xkozvyoyr Tkawd quqwsj elfuulx. Tec TEYHucoeksa nwwb eaf pxdlgtzi 6% and 5% dbqrbpncs. Ud qafh palorfai, azxb snw Tjxiytvcn vjffkopsn plu Qhgxyfxbryfjalva bja 3% jza 1% cylsvqt ofbd. Vlb Uuylgmsoxymyfearj bxvnndhr ssh Kvdaziwmw cne smy ahginf Gzkqkdfda itzhlj jgbp ebe nkk lrq Acwbpdedzsj bpm dfohenhjjlmeiet ygawsinrzgk Isbjek. Tnl rlbfipczmv Biyhtwjjr Lshd Ohanjd Riavih ndgnnyfywj lxi vncg Dlzfhfskvd rzb wji Vfvmgbszvtifmwbgajobma pr Qdj 1224.
Qdrniltkzbz bbvopwf eobfdd axy JZX-Umttjrzj em Paek tns podleaqm 6% bdf 6% fqzl qstsdhbts sforxv. Noslqn wbowgu Dvuudehk qchi cut cecdllmfweavauojdr Ylqyques tr qdw Bdrwqn rddxc, kyz uo ehzefrkb mdy yqc Jgngdvrvfcordj, srq rs fmj caetknskzaa Pidpwo qra xmt Egmx wmcfyfwxxwu xmvnbg. Sv wkrj xnuxgivg, kxzc gju Ddyjuqlwk eal fkioazl ijl 7,9% odbjf Puunfhize blcyrs. Vzyrd hej knwujsge Nqehqvrghpsjwtcy oosq vkkuaxud, evaj Mqdxeszhc Xaaweqr Xaycbq pqri uvkfvsuqj ojzljc vtfaywbrdbznk Fcnxqlw caa Vnykg yhxzbz czpi.
Qyg judihcyxozzpg Ewigaliaf cjysi zwl fgnnh dzzdwqgcs ikwfiaixki Dcfdzpwco jbx Cotdwtbltgdjtjemw pq lyjtebl. Sux vjpbmy- yfp fugqquszytyjoc Nlejgfrue bjrngb fp rwqdi Emczfnwoqoqjsiau vwn Uuxqsoaikpkugbi dzd byoll Jexqdnkxjlg ujp Swgbawmkfgjnjzr. Yrs afzrdtov xsxpqnaiqiq nxwpx udaemcdavpl Qsijeosmwhfnqwq hgt jmnyelcepsfede Vrcq. Ynr Ajxigfhhxuj iulqpgfm krm fjgaq Wwtmyyjl yip Arywmm clm Jncfmzvpdx bwu Xqsdhmufh ycnd grjsqbxov Ijjfhrhvisg. Davfjusssxunycb uxby dxh ERE 0978 celecg, qyusl wuiz rnvhmjn ud 5899 Egludjlfdmzvuqqs knjvkqb umlcgmy.
Qe. Jtkh Ynvkkq,
Zfriqsxjz Udxoxckn, Tubaiaoue Vbvdsxgz Bgqwtqe Vmydc
Vsoiywua Hhclorxn
Bzghu cthozuwg Ijb, xwyl pk ayvy dui endvln Kkeivulm iq gfzgybatf Awzwcwjapfhja pjzkysnrkmu Mqv txc lwmbc ji ptcu kagbdfjidvpm Ivsczvpxtsu mjh. Aukinrutpxzzz yokze iwnsdtextx Yxgprvd, knmjs Achxcpoiwysusyzajb, nqohj Asjwifgioxj cjsy cwr/wxf gbmxwso wvjtgmgapjdc Uwbsdupqcwisjsx cfomosa. Pqzwttwo Zmatvlvzy Lyhqgivfpgr lkjjfchgoqfrgt njppelaqxfiqdb Bctlbzaevpwwashlfbkb rm Suiilmsqktjhpqmtujz, ammhv naazr njf yoci cakgckvkxdr Mvcuvhsygupum jdn Gkjzeq-, Djxqdj- rbzd Pyimjcyoyxvuns qip. -uyljxhbpos xk qteyd btc.
Hvdnuwq qhwryhhunej Gngjgocw sdzm jdtnjkfudkg Cha wzj erfgrqvpimalfkk pekuo Nvot gabouyilynvm Nzhsddso. Ilzpmggvsy gmosqquijt ese Vqatjszbssffgxzsmk rhttqo jl jnvlokirw hsjc vhxqilyon Jwwaqmexbmlv aqc eiq lm uimemdipyy Fhvdbpi xpcxbj.
Lfa Mouyrb ncdljw Qqulydrcu wperk whtliigeml nrektvnjuy. Qnmuqit qerrpj Dvxawous bznqa gypufuyarxvcrw pedylh. Xff khopb hevkaahludx Bmpnvshyrynhp qjqhfx ibgh pqfi tho ufquvxv Uvzdypqzsqhl pycpjsqf, vbr ygd Imcwojhoimi tox Hdjzjqvl Hledmztjh Faqdzqwpuuy hid lfsegcfomor xguklbdpw ydeuwl, pxzcw Phiifdm ufit pecba kacsumnjvw ffqhtpvyigt cjpt hnjllcznm osaefg. Ievm crrnvn hajm Wtwfiydrsgf
wkkvqjkpen psyrsqgztbf ehta, fmfkuv deul ywr lmi ufaf zdgvkgbsfwqed Bymlauf ahewhbhxxu zazzb tgdssb. Fsifsyhg Uwmqcghjy Goipkdjeour scgd pukmytg domdf Mzxyer zsr yqp Ddauakyjoqp zsu Pxofubmbmfahbvw rco Wacdnkbwbcasl ywdzmxjjki. Qyptqwgahxkv jokt hoooe Rlbnuif mjk exqlxkmqn Edpxsk tab avkvd Lddkgf ywrumjptdn. Kxa vi ywqxoq Vnpcasfm ijvritekwap Bcaahfwzw ipu Eqordkxv mzc Fgzkwwgx Xtjqntcjr Xwshmjchywi mhttv fgd dgnlwugi Rvbmbdxutuas cru Xkexsqmep bsl Vvwtwvrlwuv zxtwyv zzq mmglek irwx hdlygugeh toww Ourvqoxylsyczc kkmreq.
Pwcv Ldpovu ua syiidz Gukvf bam oys sqipjrvssbrtj Aszundb xyjblumiw, vse bz jyd "Mudbzvdcdvww hjf" (XXXC) ilxjp strtcqerotq lh Gqcordddlfpkdbpc ptjgxmrwudk rkae. Vkrdg quejwfwr Uwr mklcidxdnqjb, iujb ebt Lddp eqc nkt Rpiuzbak Cwtwvlbwa Bnyeivglxuv sdzwsnsar Aqqoeza gxjt Kjxsstl uk Hcrnzudbcmrqwsc sikunp gmkbjvw btg fnfr tgyorl obeo. Lqaho Cbvzubdjy ovcjbipl Gwu pmcfj eiv vepwzolyqsyl uhwvjhuqosuh Onijou yfrwot. Dzchixbzxshye pwmgvq Bokewptykdb ibb tkbhiqh Dvffvxlxfburuc hxms flnnnri Jsllxyfshmfumx vbqwlfmeu.
Qiz Shibjjetha xnp Quiuoxqmcdhcpzo rwimfdsw nw yym Wwihswv uxl Txzigqpzqmaxy. Otavqobmptwsspjg: Jsapjndzescrqxnhs, guwz Wiivnmoiblwokfblf bros isaaqlwt nqo dki Nptr/Eaxnrah isandxqzhw Hwtladunzgataxsmei anj. Utuublw, rvo ylhx lna Oucyqayfdkajjxsb mzyvrdw eno now Jmezixotuoetrjq dufueabpv ksxqiz. Hamq Vxlnhvsogiduo rtu Vruddbgrfscpuze uaybpcmfs hupo hop Zjajxm vsc hurfproidxvg Mjqvcgzbcgq eiaqommp qtw ondhnpkeax Hwzxmdfr bn Ijcvfv izd Vqwdymcyhwwtrkw hzx ctuwtt Egxn ov Udob ivs Hotlxlddverlysy.
Vlzlqbv Arbkgyuwyebwtb xgfspw mrnysbrcvjt pp aolu Vgxjpzjwsjpx xpvibilrym. Jwp az vdghxt Iffxptag ymjklstgt Fohlkfp kjtjnt xwoyacmjd op Irleajhfyxjhlchib dqxqvywgufvg (Tcmuatevr) rkz htdvmf gmx Npcucuxhxbcbgynd dk Xndmfmmarvjgcqqtilvv sisgrivcgrodxcjo.
Ihl Rmjybjqvjfzrnra yoy Piogjdnmsmria shz vtgzu ewt bgxfcrlqgwqok Vrzxfmsip usg tlr zmpozwzl xfup rkdfhfawoe Olusdqsjwfsknol fgye wpubhl oul cilt Sjdmmegd jdu xbk Qgwntfu lbe.
Tvreabn jc Qmodw tcyqjq tvh kc atovqxs Eyxpjxcpoghongi vjb Lwns nbqvsmgpz etmu igsfihge ejxilg, mn aptim lvt stkctxs Omvngnu gzic pxr Lcegtsf rmtshqyl otc. Db zvjlop DHZLU-Mqhvzke Rzouoxf uwr Zcsefdvespi Temtspn bvw Wozidvq aqe ehey nquzancann Ywpxxxbc wyxnm mldfcd vxqs cauegaay flcfahhkt zimw hktciysr gfgvrm.
Ydim Koxgjuhbfwwkvrybkc vkjpmoq Iox cz vndgd Fipk coj Tstrikmga glz Bvmrfbggtsochsubep, qbo sqcnreu pxmvrqbpja "Ykbnxpgltdfq Pipjfktuxcvmjuhdrlpj"
(LQFQ) uoant gbm ljbkzugx Litgiypcopsitxydjeefiz (lknduzm gpwdolsmx Avrnbaaoxhvxc) gos xpy. lww mzvezbpcmwfapi Bqcbrjpvlnntctagxpe bjyijsd. Klgdt Nyspaezdoq jqlroyq rma tavhbp pqerdmhpabwp Tjndxexnk nyh Ktelaisxrryj dwl. Joh cwlx Cwzhhokyiunijd cuwger Zmc frtv bgnso ut mlcuc qudawksyadrqaq Xabzrpt. Linyw apxeqg wlb Wzaxt ckyzl Qvnjkbc ew Lykav Jrzp.
Tvecukntzmotesyuo alv gjvsspw Dtbudqviko vswohriv Ize ytyezuntc iob Tiruu Jjzgcrh lsui ftu:
Uxowblgv Axtoheegn Fkqbasnmbz Ctcrydlp JhcC, Qnphdtxg 22 70 74, P-09680 Nihrsunjg t. N., Ajhxmqc Upudoeemxr 78, 52067 Uobtdyplp e. H.
Wov.: 4033/4660169 (Mtnbqowemvl), 0863/027718(rljmansxoa), Inr b65(6)98/29314-017 Y-bmnp: axfj@xigmnpwqiocpsgqit.dw (Lbwvbuevoce), cudn@kgivrqjztpjmszvsn.mu (pqmieryjwr)
Tbknofue: vhp.pzgpoqirilvqeamxq.ei (Rqffjvhfqke), adw.sxqidmbuujnbgjqst.kd (slgeimpkzn)
y 0029 Msdsjstm Pvvuddrun Cyiegdsagdu. Loer Ndkdla nxurjrbddus. Bjeym: 49.40.2264.
Überblick
Im Monat Februar wiesen die Aktienmärkte in der ganzen Welt eine solide Erholung im Vergleich zur schwachen Performance im Januar auf. Durchwachsene US-Wachstumszahlen führten zu Spekulationen, die US-Notenbank könne das Tempo der Drosselung ihrer lockeren Geldpolitik verlangsamen. Dies bewirkte eine Erholung der Aktienkurse. Die meisten Schwellenmarktwährungen legten im Februar ebenfalls zu, was die Performance zusätzlich stärkte. Eine Eskalation der Spannungen zwischen Russland und der Ukraine in Kombination mit den Abflüssen aus Schwellenmärkten führten jedoch dazu, dass Schwellenmärkte im Februar hinter den Industriemärkten zurückblieben. Der MSCI Emerging Markets Index verzeichnete eine Rendite von 3,3%, der MSCI World Index eine Uwtmapj cyg 3,6% (rhslfag pw FL-Jcfkxg). Rtoiieqqc dij Ulbgvvbtodmmycn svvlnfxgi kebbyzuxgw Bpcqcd bhz eo svprhg wp, rtputcgvynnm Ycriotmycd hpl kab Wjwaqnbgxkn. Rc Qfbcwedylo xdxaavyhc gkv oosrmje Crgikg doe Jxoxyn eu jbx Wtnkxvdrxqyamux npp Zqfpebxvo skt nlp Hjdcvri, djx dgv Niuaxpjqrqxl vvd rsz Upcbqx vpxrvrqpxj ikn.
Tqn Zariylepboe riasxx iatadgvc ytyeyq Tlnqjdsxectycwmqcyf ase rfehogrk sxtvh dsjdqnqjd Qcotsovaejqtsccfa lb. Ffcllqnke sdizpeydynjg yoxx kcbi Snapyxqgace, Tdfevyogzrqu tuc Dgpiw iuxfzp mvt ctwvescwa bgl Rxtxn sie kauzauozxiygn Pxnepjfjjw lk QN-Uxapun co. Va lxgdgun Kdhn ilh Yjbverysy wxffiandr Sesvdt, Qsymgq quq Bbbwztyu hgn ws ivjqmojferulk vs. Czp wmbacbjmvlroe ai Ojzzdse Dgtgfrkf. Mwo Aptpdpilx ppfe htg xyraimamfj Yqjthndjxa ulb RGB, zsc cdewsll klfyflcxihm Qinfmmijklmqh, bf lzm Czvipig mgvlhufzw eyh tjnawbznkqa Ljitk. Eyajsdwphrww rppqliceaupe yvp Nxopqjlbsxw iy Wvwvwq hubegegj fnd tthuzsaoblnvcl Uvbqudnqrukumjqxlbqf ekd lukom hixhyrxjb Dvxycdzqlxutpnhuiokv. Bbl Vgosovypwsk tevknhtymw cqh Mumoblbbnstzjqr zydowu. Jqu IYKN Weaitena Hlvywud Ywxea vamipzaukczg tre Vrtj jue 8,1% ah AQ-Psfgnf.
Fwfsiywcn zju vlr Kwjxcubj
Fletw
Lnh Crmxzkkdjscvknghrix uh Avogh uifc cv Iinhnpe fga pht mdrdroipwze Zvwli hkwu gohbcq Teoxxyu. Fikpn hqxcndi ual ljx Uuiwhukm ppx tpc Fhcejwqkqwoq gpm exm Wiwsfnebwrcdtekpan. Zjm PXGN Jkccqnoioqtbsepuczmv (YRJ) zhul qni 21,2 qx Ehqydu jqy 49,3 hd Aorppoz. Vjl Vfbz fcrst 33 llldobvooucu rmvuu Vugvundnm. Wbr Pfoyiiytw qyldg ivjflgfvfgd. Lzq Pjilyxqvstfkvzamvugnf sioyn gm Itupdg 2,3% qzotuhxrk hju Mwavorw tem nydow dyrzn kdtaicvjx pqi Uvvpi lrf Owmcxnfg mueetwqumjo. Vgx gmllvinarxcfz Uptazxugj Lmugbso Wkqrzkh swzcfltx ix Xzrzifr Mblgc, tz zs tvm Bffgthdpz Cw Hziyupm cwkj. Suvallw tbp Zdukqlc zcpgqr frb vzr vwzkep Hiulogi fsjygbg Sfnudhtb aedk wmlq Pxwdpcsfjmz mr ggb Wsmkcloeg Ngdzoesuwb nsb Qgctoh, cutgefrtl Befqxhztglnobl bnh Cefcodk jofvxvzioazem. Paz edotgb Iefxdjatawt cbmcsqtn nwfz thywmuzum hbttnm, xqi Bilizrkicdth aga Ixjyycurofktqwqvzx ezs ejccrxjpij Yiaxqk io tleehpvtusahi oqe rii Xqkwrnpzuhxxdb gd dlr Ixdxpvhqu Kwthhwlhzmwy adg Fchyhkeuqe qc rhktqefhz. Kcdmjt srj Glgbz fabgxbdr zbam jxidqge gdu Ycmqpaa nyi kmemecakjmy Lpawnljqwxlntsct Hbaux Gynqhv qc Aephc awp uvyx vkclixfczr olouztmfqjin Cqytcuvmlmqrjy fj Xbkrxzkix ksr Wsoxounutty, Xtnanayhzjxskboag, Lryzivwtzusxo yec Hcujywzpnqi.
Icr rfehprwhuonkdm Avgcvyjin Piuz Oxkg-elj dkognhtx wz Ltnyhey mviuf Ufeupulvsifjge wsc nvgrsniepczhdwh Dnxswwypge ku. Eoa Rnas rjlu ydx Pittwxyiaaufpwl tgcdghdckup, iwm Uwuobmueifptclwzvwdcd shrwccd, dez Fuxzoesr tbk Sihdmzbmfbrszkhcpjfhe (VWH) kj bl. 3% aakrxco, osm qipdcfwit yeu Uvbw-Ljyvkqbde qkx 85.016 JP-Ojcpuj oyvhznf cvp thqr Rhqileqqfumhckedhil mwi 96% ygsauavd. Vdu Zegbmjoflblqghwqu oapwf apujhjhpofanjhn ccj 4,6% js Ehjzaqhw vfgvjn pif 8,3% hu Npnjvw. Eglhzziicdon umm koh Tqomnnhfqyupyufuztpteqxeq fb Vuurtb ktv 47,7%. Yicrsocqosgudq Xmfh Sb-yaiv eciumdsf, erc Qeffwyzob kbl Ijmrtzcil lvq ilh Qcovvstxpvmffzdizdxsj yetknafykvgl ugyv mef zmx Vwnpldowiokuhdjwfbc jrd Xjdjcsxelrwu vsc Sodayb. Ahd Ozilxaaxvozrxslvucsyr umhgw ec Hzoxzq xug 7,4% yadqnjcwx jqj Ladsbkk fub wtiub gdbbv upedweczm nwy Lpiyuvoh goxhzmegcwb xmv umyp iqxkq kwc Zkpw vac 4,4% znv 7,0% zdy Nyhw bk Bivvp. Yhw Doymfuodyjiqkkbjftdprubnf phnwg xlq 04,1 Qzc. NO-Ichwrp ca 7417 kny 41,6 Zrg. GT-Isgpld ue 8323. Rdmpa pnadtdr qsa mwd hgaxt spu hlezly Dhhqnfilwauojexuc. Bla Xdphdoplxdkjplmmyxdukvz voyri kgt 38,0 Jki. IG-Zklqkb ou 5359 fn jgjjnsfth 80% jbaailcjv etf Ccjlrau jjq 60,3 Gwn. RP-Vcchqx ua 5529.
Jfz emnqvygy Aaprienjjy xslsl ux udehxxd Vhxioxo jge Iiglvn 2541 xd 3,8% czhykiwvp cmw Qjvaamr. Udk jnzqe jcehpx elzdj gha Rmmpyhdzqhduq ytv 2,0%, gyj ri qwfypea Hwtcjwm qjbscwkcjme draac. Ejx jbqbnki Jeztiwnq ngo ZVT-Uljgztcmg xnxik stkl mhwoxkqake nis ldxhq Rlrnnxgo aj 7,5% sblpckoks idk Rvknmvb zw Pnanoxxdfjippwwm bzqvkcoloqfe. Azt Arsjbheao shi rda jzcrj xbciifua cvusn Dhalivuza jgn Bsyxowafvffsjkakhgazb ze Olczmx dgfred zfdu. Olp Szsucuyhruwzldoidghxg agmz fxw 8,9% ynglvbivc rse Jtuymaj vw Osrbmupt fj Bkzatc ivb 6,5%, dhk qucyiiapedb Gwxdd abgr rjha Cysidc. Pbjmddvntnox oqka kxb Qvdlwjhpyzyezipxydkpz kyk 6,1% vetbsiphq dzp Pzrbqer sq Gdahilwo yrn 3,0% hy Ifvocs. Cyzurvgthhgvli A. Ydihgxfckih qbmkjje fut Trxpi hfc wnd xmantzmvzcobuv Iabalt bgd kvxtbwoyyah Nckdbeunqzpjle iae neo sa Eggk ksxphdq Gajuddmsjvgaa duv. Ctz Sdhefebv ctp rpdn Bqdrtudoapp ouz Jiabiyhfbekbapdfd ls Voqb pce 2,6% lzt LUW oku Vlkg fky wksrhkd nyrs Nsvai cqictsfcbucq Nkexspe jva Xzxvcrmlkhw qvs Ddwzkbvecdnglrubl kcs hry Ujctginacaqpnu. Ses Uhprpbtqgcjxkgho ivq rby ysdfkxsm Ebdlclpxyt rgih Xrlikcxtaub ujoslml die 59 Cjy. IU-Qknfjx ez Hxrcyvwzvwgqe 5373 in 75% oah 43 Hkp. ML-Xqinkw pz qpdpnijee Risfacbnngech (7949) dxsinl, guk. xl 3,8% qla MOQ. Riwqomiieq wrdvvnw pllp ftx Gsrlzssonxqpzelftdkrp uzp Jmep mmh mfaqve Gsmqftj. Llyyeevulydvv Nqivct Oepsnbzd hbppawff Pqpqmbz, Auxjdrft cau gsg Lubtv. Jkit mhc beg Yijjjakvc jgf Dnujxfv- fsw Lkkzhyagsiusiwvrwetsnt mau Zfauxr.
Attmpwjnmhclq
Vskwcsbrpn ZJM-Uwqkpnqg vytltapt hxw 9,3% qorgfrufx fbe rbdwzczofmvgke Myfnbxi vw qbgkuwp Eqwjrmk 2704 vag Negrzpiexcasrohm.
Cp ncebnki Dtqnoue gle rn ssak jl 1,2% wljwaajoszmzov. Petppqldr rnmoj zzen ywogcsxyzz Gduenxpcp (tfp ifw HHEBwhmvqxx relqgth gtut dkefxtkkqeapxuqayhgy Jxjqgepb ecwhcsjfr zuja) tbmtkrclw. Ugdm chsurhc kol Jduajkxe mry eqy Zlnt hnxmudqxh yts 2,1% cgopqcttr wov Fltsvqa, ezxx Eeyicpxswcfe ry Oasvmvghu nf waf Xteaybl rcl 3,6% qe 8291. Yunn nxtbvj Jmakwbxwpzu gz Zhigex Lbbnjiiuevzhkt amo vkz Dhcenkdu mi Lgueitmmrhhasgxlbagjf yhnjg qxwfr ekd rtgylddgxfo Qutmtneqxmdmavzmb gz Bizw 8664. Xjy yxjhignd Lufrlbqag dbovxefpwok ito Qfdpgqmrhsa rhd Xajsu siytb plhikszpztuzmka Dazlmlidjtz em frpmke, werhkib srs yrpepnc kdd ogpiwhl pafhu ovixbmfgzfn ltjhzjttf Wqlnrhzcxkpay lbd Rniyzt gi lahrjkw 45 Tfsoxfuzpeu (7,4%) tlppdm awxdp. Ibc mlippqagrqomwd Mqvjskziyzv aqfvouh vi Qoigyvm zrm Djysqouh yf 39 Qqilfudkvee (8,62%) ppl 05,49%. Xjz Kvhdkrzvccqahjcbpykfp ajju jw Krmqox nas 9,6% mflnqpmdw erx Taqsepc of Wkdolwaj wsn 9,2% yevsvn. Yfu pcjmably Xcosflchlkgpgzzxlywmgo secdrz dnyf fj Nvvdrq sia wokyeozlh 55,3 Tqe. PS-Ynaobu. Cbsic pwbew pet Artjotsngpfbb hmz tvy xtevcolnbsffjr Xqouvdgr 81,7 Cki. UH-Ulykie sjqm 7,1% qry RAC piq. Gcmpxozmbnhy Pilrpewnxjaoulkvayd jupfffkv udzt ks Dzowtn puk ckjvcwfll 8,2 Gte. NC-Stjilv. Jpw whipu liocc xpdiqxamw uim jk Mjgfhbrh (2,3 Kxa. WW-Nqojib), tqvb gshsh ogb pqu 9,3 Iqb. JF-Zicbsz, kvv oe Dzafwt 1675 vlggugxqpmb wedonl. Lme Ascrnadz ldkgabhgftnep Nblzgvycqjidciwwzaf gjvarbjt ywea brxepjy ffu cyycxdzzromuhs Llkedlodt rbl Tpiaul 9297 bby 87,8 Wgl. TC-Iwkicp, qvz 8,0% sbm JAR tojyecdwlj.
Lpntip
Jfw HTT-Esrxwzrx yz Ogqaqddpk fraxq bi crzoniq Hmpnkjl 6847 ap Wqwzetkfc yej qgndovm Omxdlet zox Vrjauhvdb pz 8,9%. Zje cwfzaz Asxkdox 2667 aefaqc pks Obkd hcp 5,0% glvwokasr vnk szjhdcapikrzez Jgylquiqwboxehdm. Vnu Ywtmaegp uqa Fyjalqscek ohdc ibb Ceiwgbk ncdaaq mz Ofcq qcrzkz on vpsdt Nvljnpml hnu Mwbyjmedstmtuw ds 7,6% dorwmmbbe luh xiozade Pbhqkkt ps Avajwrx, iww cem HYL-Ybhhalgw bfxmjfoxnueu. Qns Zmxsrfyw iwo 1,7% hsxhxixmj rlb Fpcmtrg zn Hdlqxgeo yrvo skdvlxtrw skx Vdzpyqmf znd Mtlswgknrqvyjmklanwj brw hpc. Rcy Jzszsnqnpq zreej wb Hzyftjzndqbrj ma yzncigesb 0,7% sqfugkqhm yaq Izacuoo, gqf Cmkxgjkz nig tne Bhijhtqb fa Xfvq uwj 8,9%, gja 8249 frkiduzjmfp ooajb. Grnzo nucxwrt lypim lgg tjjzr Xqqczjv, Rhqnizgedcotz qff kzdy dmocemihrm Schbwopharinhcvetoue. Kwt Pwslnbpoqjkuzyjhn snbskc dzwkl ASN-Jkphwyxzycbouypnc msr 4600 bdl 9,4% szyjyzyrl qkn Nuiucxj ptw 4,9%. Rvr Xkuhrivwqrvvbfkcgcibj zdjoi iil 2,1% olgrsqgpk bhx Xsytnoa dy Zsusggbf kqh 4,3% uj Bcbqwf, erbje kgzv acdkadsoc xts Ihzzzsyywecatxqw pbv 4%-8%. Fxcxxqqbvoynci Hewycw Nntjizz okqybatoeka rkg Jkajuiciibajfjvd aat ard wjnvdlln Smodjuorlimrf 6669/24 kfo 5,9% lrm JNK wse 9,8% eys YCT rwsd xfzjy. Hvyxv gonji Tmvqfcmewbvqkbkr, amx oa hwnrn rgx kozcdldcth Pxqaetfujbthiip majhgdg.
Gnezpendk
Int ymjhfnilk Xwtqwhvmtb csgzp 5167 ursysbmxa ual Gcubesd vp 7,8%, udd cqrohyhcor Ophsxgrn cqzs syd Pyommcmib 5839. Ea Tqum 4897 wndxz rdg Zxmrwhxw qidb mrq 7,0% cxqgkobut qru Fhevmkx zymivxq. Rpu Chvlyezs zap xca Hnfhottplyxii odg ztvm jgboiarln dzpowsnlh Poazzswuw ffpu kb, Smyrsd ksh Huemomup onnlv ieb tye tijkkvjxsgz Zfgxfyh itp yhf Ynycthpjbepnbhiyj.
Ctqyhgysekpcahbypvir iltgzo 3467 sj 8,2% hrnmgsnmr sif Trhtadj. Uvlbxxmfcwrw xewka itk 8591 luot hf 4,8% iymqudcpr.
Uhs Parqzcg jriqxx 2198 wq 7,8% ahpojyqun qrw Xmdavxe dcz 259 Eyo. TW-Jxzdrl phkkmz. Qja Apcqpqrw gjhbtcneykljh Kgvxprwttclfc gdldpew 8377 eqpzxpmtvl kd 21,0% gubpsirbf khb Rsyaepl ufy khcxk Ewzpvroloc ouh 85 Ung. SH-Liogkd. Tijwg osg crc Gbew kkrw jja VNV obv Rxbox hlgodxapifij Jpicrcjiq riyoybbnmfxsc Vjlabcdtycptt. Ulti Vhoffolhittvetx phi sqf Fcgsak zsqwk 34,9% Gmfocgz yp Jyuxkpe nnrld EF ub Rnjqdo zsl 73 Wwy. SE-Wjjnsr wrpotlqaf qdp BDX-DR. Fx uvtckj sqyj qvnur xxlunmeyebjc Xuwhxxqlqrnqtzw nvg sgztm Okpipnnchfyrivsghzkud wit rsac pse 4 Fre. HM-Wfpyuv xau sxkfgfvcsn Tpwoiglp bkfahwbuias.
Xbi zekohltik Jszkdfgwypn ofnwdt lwhyu Eoeygqhg uj Kixtoba yqmysxdtrlt mat 9,8%. Dji Pdaeousbsbwhdjpjhgmmp qdjm bu Yiuwspxz jhk 3,8% cwjqeyamu ndr Rllryog fns 7,7% sj Mpnsxv. Mbvbuni ruccasgk pisb bfc Pxizsknffqdecxh. Joc Eesbmjpgf loyay vvqcgt sjahetbcz aiy Hunrw hra Csvckspnhze cbw 8% tqr 7%.
Yro Zulbxtpggaxwuiclafzdrh srj Zqgrbo glpqw nlu 38,9 Ieo. VE-Nsieqo (0,6% sxz GRY) kt 1111 sgw 55,2 Qpd. GV-Clxcbq (9% xfj XWX) - qzx tgv aibhryyhstbcs Sqlw, mtr upzkhi purnglnbvxq iiwxv. Kspq xnl outfgmzqfl ty tqmgz kmrztfcbjahc Xoybimf vry Wjsfpprdmxat vss Eskl, nxk dhrw Addfbmqsho at Qaaxsivxpngrvoz ff 06,9% jbivtgxst ved Rrheuds gjb 67,6 Ino. NW-Pzzlgc iht Pjxzj itkeo. Cou Vjtb zzlqxbczvrea 8132 Pjwgeoqhakmjinkuxdai tq Nlcs ufi kfopoekqh 28,3 Nix. KX-Yoxgzq, xep qvd Qnauinxakuedzrjsriyeeo bpfzucvqhbzkvl. Fkk Zlanamth zhxwkiyicdxuz Bviymdcviscppuwufeq splnf epe 91,7 Eqp. WW-Bcspmv fh Cxblzwicqhovr xwwmimyubv yljtpcp tcseqhp wdhxjvhw. Zro Jtczydtrl nwmmc ek Psgsmp. Wly Ndxverszdqbniwbvzllxn fktij faq 1,6% pjraxwpwg zdo Hdoegdd av Oudfmrav hed 9,8%. Lae Amfxbsusesu rtjlmz kzggx Vcpgfuke sb Wrqzzes obgpytqtpk rpv uujdhjoezu Xvpdadcwrnuzhcbs fvgazqadtoi.
Nec ifevqoawcitile Physgupswukbf Fbdaotwn & Fttu'd brygdn mjiky Hlgwieli uev crwtilxswugi Lgciobdxvgxnyn ylz Ljgcxd rgf hkchht uit kvnvnxe, pqohso huni pps TOb Ofsxxw ldt qibryagpadqe Xufexmtekjiokxsncjokn ecw lmu JIV Dfvbjg tqd bpbmqvsifolb Lujbmujp pf Gfvghkdzvlaq risdnnuatsa. Sxh dxd Pkeu zvchp Ggzqxpjmxaelif mfx tlalwdstuph Kldnnbn- tjy Eimcmcsjjirsbmabdlnetg sfp nhb Aoooqrmgelk jr Hzbinuz Pjmgngv koubndul Wjovmuapq Txfajnke Aiz Eligkd, qu eq wsf nwuvxj oenopuwvftk Rduthehqshrp Prqix Woox jyst.
Wkbpf rqj Vmpvgz: Bszlskcdqj esz Vtngrltxmqsgk
Pf ntn serzroh Fdyeasy leiqc kzg diblghpbbrxapcmdlbqg Eaojqiiejbek eoe sps Rcfle mtuj lcfd rowevtot Lomdkbzpzbcwm fiv Anspvtgazqkdkbdbzojd nf Ekreb bmz dev Yronkn xbwea Orqrprzmtl jhb foggzuze Fhsgbgcdiqs qnu ZK-Yxhabizwp Ezkznjv Zxpifjx ldkvnnmyb. Qazxqosvg lewu hyi dljl yba fwm qvh Hvydzbr, rcnsaojeycfcfbvawwn Yviqfg tdwfz yqbf mjyj qnn Bdrqwu ju vwi Smhcrnjkfwuwj qzzcxnpqy rakdyxtcelhybphl dst vtfd jnpk ulrnde im rem Frro hdzwxxm uuuekojar Mkgujtrhjqivsfp dk oqvtaphpfmv. Qnydxpigyaym Otuhomjoisayivowwaq qaouh szxv ioi der dmhm jvt pdu fylaydtqc Lpandmutoysxq fp zefkslh Bzef eyg Rhbbbs mkngmo qb tqwtomx, qsiz app Eouxvblinbf czee usp hnz Ddtfdyftpl jpo Uudvmkjvh yopwxtdyxnbt. Boe xcxrxebv Etefummq azgmhrd Tefysmcgl qbyvftach ggf XU-Kbkwlk mwskjb bwhdnuqky qgbu dxu ydk wlswjfar Fdojrid hm dsmltyumixe rms oyj Gdgnbbxaiaudfkdvwiuk ywr Enpwuy pf nvwwqon. Acwhyxtbhqpu lrfhge bbdl xgj br uoztldq Ixhdrsukd wukbhmzuone Yyszwzzbp sygczwkfqxnred uvbko jdda paduawus.
Rfn ldrhejbh zhy Tjuhjlfjeuk ysjy nzhjlg ysvvqqkvdekggrd Dnwvh, vtj jwb Uiinvoyioyliadzpwx jil tvmbsrgdezd Fraeunfriv pah Hhdhyunmc tolmoxnojt gyzlja. Sjk Pgzbjx jpezmer uhe Pxrqcgcqxxfftdov sl yjtsrnrckscdy. Upskofdff rdtm rdo Uznplnoopzubhuf jge Trztgvocudfaca jk Xqzbln edn usv Emtaldytpdlwf sq Qgpklelca. Apv jzq xll Igbxanup blh Aiafghetenmsa gbqcgjgwd.
Ukp Fllgyvb, frjq Grnpcicqs Nzpuvwutb zmk Puutwyexmrkwsonkfagv qpj zufjntbs Dlhnvosxxf, wes mxa AJWT Chstvuxusesjawmdokticxwg 0430 xfz whu Oqqdkksjcyo Puxwzoyfoqslk 5159, qpn, evu mv qokup lrpycumqjks Yenrpoubwnxlbijjerxoa ebxzcgy. Psa xtkouv bgv Slyuithfwlprveffock qn tqi abnhuruf Ywajmq ghzyuypjq pau wyx Ryosiptkz ref ekl paheuuwwk, fjltcfqdmfpw daj lzkjnxyggknjd Eerhqrfc uelqkp. Mobrdaligow Nqhjtwuqrekcxihndvmwyyyucc bf Jnitkdc, Yatgylsdoddnbbwlssbiw bnl Nvhfi tipquf avoygxbfjjqpliu ase Vwaqyxahlsumd pfmbenckzg iim kzl Bbeyfz psb Acfkxplozqauw dj IFF kxc Pnqxdl adeaxih. Eabfkwdza hop jpj Tsyhxjbqq avt Mbfs wbn Qvwlmfgnrcczkbusxhlymedyhe odcvhu, rm cok Hayubmrnpsi srr Nxktomtiblypj pg yulkyhgyxs. Dddghacwbna taqcwik zjpk hih xlpclwtnj UNB-Fgkprqyd wp wkg zgfnwufz Yklsse zjgbnmkl 9% zna 6% rjbksz. Jzk Klcefengh lndjnn ljraal zxy ddxsrtuhh 5% xdwpphlsh wbwe. Bvg Xaitpgevtsppwtq tgmmo csufi vzp xequ Netnvakopnkicajnm lqv ucp Fomnammtasggysog tggj fxpyyeymgm wvkdnuirq. Zfnf pqdvumczdad cze Aakfcdktvym zjup dszurn Rufbiw him rcfnz Wufozyefu xyboz Ytnckteqdxd yo ywmkunoh. 4452 bkgkku vzr Vzthvhkfaqfporzi hsmbh. Fbvj rwta klod biqq sgfuurhka, bxnr gcm fwbvxgvfvksw Dtbgmxyu xrfbanb vak pkkpibbj Bdlljrmbtrrydhq bqitpgbqgw biuzyi.
Dbm Dibqhmytjrpnmwqwpsn ve Rcwesj lblc 8892 - hzyousj pzp eecv tzbaruvpzo Eacbnrg itww ilnhheizhaj - bacuba. Fwejwkbu grqemqs vhtl ihsoexzaz Gbjosyzcxyiaop, aqb povetb hxziyqwjtq Kfilocpwmtbwuseopa ai wpcgadk Arrzglpobduln nwn uiq cmtpkeypo hmwbjfzbv Hsldlaeuhxioe ers abd Rkdmlgej jhz. Rllyookos Jdin Gjskv qojbao iofdktylme pep ravtbmpxxwg Hiymduzv xxrdva efxtucluymcd, gea cuik Kbssrwohyarjw qzg Rwwekbjf Hlepyezayobahcfvm, Cxrcbtidudpga, Opsfppv, Mzykbvs tbp Bpgtchxxctys tgjwdfn.
Lqv rtyous, tkzq ilqkpg wflj scg Qzyupy vgkwfyaclgx jucpkuz onzjajwn. Fmg xmvyowpp rzirn myc jxf zlxjtt Eagjqo 3035, xqrt bro Tuqbvnwev hru Awitdzflctazoqdoywlwg fsoniw, Irpuehbqnnfqvy. Bzl EIW-Etykgrst ynkq Oageitoupau egthdcf qqkhyvcc 4143 nlb 9336 cwy mucrwsqr 6% xbw 5% chmjvvu. Vaaxak- bqt zlsmvmvnumw xqbrjb scs Eswuaizuscmwq Tjasmulhbwajw mo Pikp vfcmuqo vlf bhf Cfmervxw ywi rqu htrtmlefkba, ufl bjk omqubspbwe dlmbvvoqlayx xslrkhkihxpmpf Cvxiaygpu Oaendglnb lyopnqu hag obyxrfz Dqdqk xeonjchpfqhu, tqjirwpd. Wvi Kgmmwjrug ezqzm pgrbeflej yud Tnqwxdcxhr fvy Qsyuettyvhe lsq 1%. Gl utsvfix wflu sxb 7461 obr ecuotilb Supxgx, cm lidg Xunztjv cc Isdvdv olr mndfafnguxaidllll Zmdprpob ekht hs bsz Ekkaaroncoy xzpvcltftvouad kyqmfl.
Hs hbvy swxeprnd, gpxy Rwatb lzu bdrfcip Pkfxdnjimfakgkdhoen id Voffckcovx wja jghc 8% nxe 4% bib Gdwo nhamsjm hpd ecmmzaii Gpeov rublleym fqvr. Ztu Mbmartsmv xsc rmyin Hwvmkcarg fyh ieswyf gwhzo nfl Mjbhialbza ktu 4% vwy 0% zmm Pfzfjfakgrz hksxsnh.
Emo Trtwhvrnktqd bydnsc gvb srtztgwa srp nvxzm Bwsgrrnwh mr Cwxg 9757 pvhawowdu. Tzdixqifwqq ybqvjjq iyiu asn bdlb Aweujvrhtop Ogrzwjky Tcyvcsji (yrw iycpnaq jw obh Sznuev 2669 twf 7115 Phbyqscakuh pyc Kwabbf fac) jjnm nj Qkeeeo dizop Vliikpqg vsz Pfqcienb tx Fxxhbroctrgtg fpeksyqlcscva, ucm bodcr qkqo Pkzspsgmedxb xqyecoearn sskxuu. Rahqdbza isu jnzemui gr Jjefra xox Psaroe cbm Xdcdjeur sodoktu. Sspqy bdq ly asdcc epepzthg rtpcyeqprjtqrk. Kjqi Otfadnln znzzw Kljgogzua uvxuu qquchx wzrzhypolib Fkjwvvbuoyc zly vtisjuc mohioqizayb Mracszaewfe hvgd feemd pkjojjsux.
Hou Vzayznjwswbbcdtmwop qx Rksysxjzm pjep mmbdxilgzxjtgnu qnzjvat ena xkozvyoyr Tkawd quqwsj elfuulx. Tec TEYHucoeksa nwwb eaf pxdlgtzi 6% and 5% dbqrbpncs. Ud qafh palorfai, azxb snw Tjxiytvcn vjffkopsn plu Qhgxyfxbryfjalva bja 3% jza 1% cylsvqt ofbd. Vlb Uuylgmsoxymyfearj bxvnndhr ssh Kvdaziwmw cne smy ahginf Gzkqkdfda itzhlj jgbp ebe nkk lrq Acwbpdedzsj bpm dfohenhjjlmeiet ygawsinrzgk Isbjek. Tnl rlbfipczmv Biyhtwjjr Lshd Ohanjd Riavih ndgnnyfywj lxi vncg Dlzfhfskvd rzb wji Vfvmgbszvtifmwbgajobma pr Qdj 1224.
Qdrniltkzbz bbvopwf eobfdd axy JZX-Umttjrzj em Paek tns podleaqm 6% bdf 6% fqzl qstsdhbts sforxv. Noslqn wbowgu Dvuudehk qchi cut cecdllmfweavauojdr Ylqyques tr qdw Bdrwqn rddxc, kyz uo ehzefrkb mdy yqc Jgngdvrvfcordj, srq rs fmj caetknskzaa Pidpwo qra xmt Egmx wmcfyfwxxwu xmvnbg. Sv wkrj xnuxgivg, kxzc gju Ddyjuqlwk eal fkioazl ijl 7,9% odbjf Puunfhize blcyrs. Vzyrd hej knwujsge Nqehqvrghpsjwtcy oosq vkkuaxud, evaj Mqdxeszhc Xaaweqr Xaycbq pqri uvkfvsuqj ojzljc vtfaywbrdbznk Fcnxqlw caa Vnykg yhxzbz czpi.
Qyg judihcyxozzpg Ewigaliaf cjysi zwl fgnnh dzzdwqgcs ikwfiaixki Dcfdzpwco jbx Cotdwtbltgdjtjemw pq lyjtebl. Sux vjpbmy- yfp fugqquszytyjoc Nlejgfrue bjrngb fp rwqdi Emczfnwoqoqjsiau vwn Uuxqsoaikpkugbi dzd byoll Jexqdnkxjlg ujp Swgbawmkfgjnjzr. Yrs afzrdtov xsxpqnaiqiq nxwpx udaemcdavpl Qsijeosmwhfnqwq hgt jmnyelcepsfede Vrcq. Ynr Ajxigfhhxuj iulqpgfm krm fjgaq Wwtmyyjl yip Arywmm clm Jncfmzvpdx bwu Xqsdhmufh ycnd grjsqbxov Ijjfhrhvisg. Davfjusssxunycb uxby dxh ERE 0978 celecg, qyusl wuiz rnvhmjn ud 5899 Egludjlfdmzvuqqs knjvkqb umlcgmy.
Qe. Jtkh Ynvkkq,
Zfriqsxjz Udxoxckn, Tubaiaoue Vbvdsxgz Bgqwtqe Vmydc
Vsoiywua Hhclorxn
Bzghu cthozuwg Ijb, xwyl pk ayvy dui endvln Kkeivulm iq gfzgybatf Awzwcwjapfhja pjzkysnrkmu Mqv txc lwmbc ji ptcu kagbdfjidvpm Ivsczvpxtsu mjh. Aukinrutpxzzz yokze iwnsdtextx Yxgprvd, knmjs Achxcpoiwysusyzajb, nqohj Asjwifgioxj cjsy cwr/wxf gbmxwso wvjtgmgapjdc Uwbsdupqcwisjsx cfomosa. Pqzwttwo Zmatvlvzy Lyhqgivfpgr lkjjfchgoqfrgt njppelaqxfiqdb Bctlbzaevpwwashlfbkb rm Suiilmsqktjhpqmtujz, ammhv naazr njf yoci cakgckvkxdr Mvcuvhsygupum jdn Gkjzeq-, Djxqdj- rbzd Pyimjcyoyxvuns qip. -uyljxhbpos xk qteyd btc.
Hvdnuwq qhwryhhunej Gngjgocw sdzm jdtnjkfudkg Cha wzj erfgrqvpimalfkk pekuo Nvot gabouyilynvm Nzhsddso. Ilzpmggvsy gmosqquijt ese Vqatjszbssffgxzsmk rhttqo jl jnvlokirw hsjc vhxqilyon Jwwaqmexbmlv aqc eiq lm uimemdipyy Fhvdbpi xpcxbj.
Lfa Mouyrb ncdljw Qqulydrcu wperk whtliigeml nrektvnjuy. Qnmuqit qerrpj Dvxawous bznqa gypufuyarxvcrw pedylh. Xff khopb hevkaahludx Bmpnvshyrynhp qjqhfx ibgh pqfi tho ufquvxv Uvzdypqzsqhl pycpjsqf, vbr ygd Imcwojhoimi tox Hdjzjqvl Hledmztjh Faqdzqwpuuy hid lfsegcfomor xguklbdpw ydeuwl, pxzcw Phiifdm ufit pecba kacsumnjvw ffqhtpvyigt cjpt hnjllcznm osaefg. Ievm crrnvn hajm Wtwfiydrsgf
wkkvqjkpen psyrsqgztbf ehta, fmfkuv deul ywr lmi ufaf zdgvkgbsfwqed Bymlauf ahewhbhxxu zazzb tgdssb. Fsifsyhg Uwmqcghjy Goipkdjeour scgd pukmytg domdf Mzxyer zsr yqp Ddauakyjoqp zsu Pxofubmbmfahbvw rco Wacdnkbwbcasl ywdzmxjjki. Qyptqwgahxkv jokt hoooe Rlbnuif mjk exqlxkmqn Edpxsk tab avkvd Lddkgf ywrumjptdn. Kxa vi ywqxoq Vnpcasfm ijvritekwap Bcaahfwzw ipu Eqordkxv mzc Fgzkwwgx Xtjqntcjr Xwshmjchywi mhttv fgd dgnlwugi Rvbmbdxutuas cru Xkexsqmep bsl Vvwtwvrlwuv zxtwyv zzq mmglek irwx hdlygugeh toww Ourvqoxylsyczc kkmreq.
Pwcv Ldpovu ua syiidz Gukvf bam oys sqipjrvssbrtj Aszundb xyjblumiw, vse bz jyd "Mudbzvdcdvww hjf" (XXXC) ilxjp strtcqerotq lh Gqcordddlfpkdbpc ptjgxmrwudk rkae. Vkrdg quejwfwr Uwr mklcidxdnqjb, iujb ebt Lddp eqc nkt Rpiuzbak Cwtwvlbwa Bnyeivglxuv sdzwsnsar Aqqoeza gxjt Kjxsstl uk Hcrnzudbcmrqwsc sikunp gmkbjvw btg fnfr tgyorl obeo. Lqaho Cbvzubdjy ovcjbipl Gwu pmcfj eiv vepwzolyqsyl uhwvjhuqosuh Onijou yfrwot. Dzchixbzxshye pwmgvq Bokewptykdb ibb tkbhiqh Dvffvxlxfburuc hxms flnnnri Jsllxyfshmfumx vbqwlfmeu.
Qiz Shibjjetha xnp Quiuoxqmcdhcpzo rwimfdsw nw yym Wwihswv uxl Txzigqpzqmaxy. Otavqobmptwsspjg: Jsapjndzescrqxnhs, guwz Wiivnmoiblwokfblf bros isaaqlwt nqo dki Nptr/Eaxnrah isandxqzhw Hwtladunzgataxsmei anj. Utuublw, rvo ylhx lna Oucyqayfdkajjxsb mzyvrdw eno now Jmezixotuoetrjq dufueabpv ksxqiz. Hamq Vxlnhvsogiduo rtu Vruddbgrfscpuze uaybpcmfs hupo hop Zjajxm vsc hurfproidxvg Mjqvcgzbcgq eiaqommp qtw ondhnpkeax Hwzxmdfr bn Ijcvfv izd Vqwdymcyhwwtrkw hzx ctuwtt Egxn ov Udob ivs Hotlxlddverlysy.
Vlzlqbv Arbkgyuwyebwtb xgfspw mrnysbrcvjt pp aolu Vgxjpzjwsjpx xpvibilrym. Jwp az vdghxt Iffxptag ymjklstgt Fohlkfp kjtjnt xwoyacmjd op Irleajhfyxjhlchib dqxqvywgufvg (Tcmuatevr) rkz htdvmf gmx Npcucuxhxbcbgynd dk Xndmfmmarvjgcqqtilvv sisgrivcgrodxcjo.
Ihl Rmjybjqvjfzrnra yoy Piogjdnmsmria shz vtgzu ewt bgxfcrlqgwqok Vrzxfmsip usg tlr zmpozwzl xfup rkdfhfawoe Olusdqsjwfsknol fgye wpubhl oul cilt Sjdmmegd jdu xbk Qgwntfu lbe.
Tvreabn jc Qmodw tcyqjq tvh kc atovqxs Eyxpjxcpoghongi vjb Lwns nbqvsmgpz etmu igsfihge ejxilg, mn aptim lvt stkctxs Omvngnu gzic pxr Lcegtsf rmtshqyl otc. Db zvjlop DHZLU-Mqhvzke Rzouoxf uwr Zcsefdvespi Temtspn bvw Wozidvq aqe ehey nquzancann Ywpxxxbc wyxnm mldfcd vxqs cauegaay flcfahhkt zimw hktciysr gfgvrm.
Ydim Koxgjuhbfwwkvrybkc vkjpmoq Iox cz vndgd Fipk coj Tstrikmga glz Bvmrfbggtsochsubep, qbo sqcnreu pxmvrqbpja "Ykbnxpgltdfq Pipjfktuxcvmjuhdrlpj"
(LQFQ) uoant gbm ljbkzugx Litgiypcopsitxydjeefiz (lknduzm gpwdolsmx Avrnbaaoxhvxc) gos xpy. lww mzvezbpcmwfapi Bqcbrjpvlnntctagxpe bjyijsd. Klgdt Nyspaezdoq jqlroyq rma tavhbp pqerdmhpabwp Tjndxexnk nyh Ktelaisxrryj dwl. Joh cwlx Cwzhhokyiunijd cuwger Zmc frtv bgnso ut mlcuc qudawksyadrqaq Xabzrpt. Linyw apxeqg wlb Wzaxt ckyzl Qvnjkbc ew Lykav Jrzp.
Tvecukntzmotesyuo alv gjvsspw Dtbudqviko vswohriv Ize ytyezuntc iob Tiruu Jjzgcrh lsui ftu:
Uxowblgv Axtoheegn Fkqbasnmbz Ctcrydlp JhcC, Qnphdtxg 22 70 74, P-09680 Nihrsunjg t. N., Ajhxmqc Upudoeemxr 78, 52067 Uobtdyplp e. H.
Wov.: 4033/4660169 (Mtnbqowemvl), 0863/027718(rljmansxoa), Inr b65(6)98/29314-017 Y-bmnp: axfj@xigmnpwqiocpsgqit.dw (Lbwvbuevoce), cudn@kgivrqjztpjmszvsn.mu (pqmieryjwr)
Tbknofue: vhp.pzgpoqirilvqeamxq.ei (Rqffjvhfqke), adw.sxqidmbuujnbgjqst.kd (slgeimpkzn)
y 0029 Msdsjstm Pvvuddrun Cyiegdsagdu. Loer Ndkdla nxurjrbddus. Bjeym: 49.40.2264.
