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License No CISF 064/06 of Cyprus Securities and Exchange Commission
3 october 2008
he Russian market managed to avoid further losses yesterday, in the wake of the sharp fall on US markets on Monday. In order to calm the panicked mood of traders, the FFMS halted trading at the start of the day until 12:30 pm and also banned uncovered short selling. On the resumption of trading
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2 october 2008
esterday, the US Congress unexpectedly voted against Paulson’s plan (228 votes against vs 205 in favor). It seems that the majority of Congressmen are not willing to take the responsibility of voting for a plan, which is not favorably regarded by a significant number of ordinary voters
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1 october 2008
On Friday, the Russian market (together with other global indices) traded lower on negative news (Washington Mutual’s bankruptcy and delays (in Congress) in the ratification of Paulson’s plan). Regarding internal factors, prices were pressured by lower oil prices, deteriorating liquidity due to monthly tax payments and the lifting of the ban imposed by FMSS on marginal trading and short selling
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25 september 2008
An interesting trend is developing on the US money markets: according to AMG Data, last week another $144 bn were withdrawn and placed exclusively in short term Treasuries, which received an inflow of $143 bn.
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24 september 2008
Yesterday, there was a positive mood on the Russian market – an encouraging sign to see Russian markets begin to make up lost ground – even when there is a (albeit temporary) lull on foreign markets. Even the halt in trading on MICEX (this time due to technical reasons) did not prevent the index from rising by 3.2%, with the RTS rising by 3.4%.
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