MICEX Index has fallen off by more than 15 percent

[Евгений]

The fall of Russian stock market indices for the last hour has accelerated sharply. By 16:20 Moscow time, the MICEX has lost over 15 percent and the RTS - eight per cent. In this case the RTS for a few minutes had a sharp jump up - even at 16:00 it drop more than 10 percent.
Recall that the sharp decline in all the world's stock markets began on 15 September, when it was announced bankruptcy investment bank Lehman Brothers. In addition, the rating was downgraded the largest U.S. insurer AIG, which may also indicate its near bankruptcy.

Immediately after these reports have fallen off as the stock indices of developed countries and developing countries. This is due to the fact that investors began to sell assets into risky markets to obtain cash, which many banks lack.

Because of this, in the greatest minus Russia were the most reliable action. Thus, VTB securities on the MICEX has fallen in price by 21 percent, and the Savings Bank - by 20 percent. The capitalization of Gazprom fell by 11.76 percent, and Rosneft - by 14 percent.

Such a decline usually means that stock markets are no buyers who would agree to purchase securities.

The crisis in the stock market may result in the collapse of investment banks, carried away by investment in Russia's actions, as well as a multibillion-dollar losses of shareholders who have invested in mutual funds shares.

[Vladimir]

Analyst IK "Prospectus" for the economy and the banking sector Veronica Chekina:

Universal boards about the currency in which the better to keep the savings do not exist. Perhaps the citizens should be aware that it is not necessary to fold "all your eggs in one basket", and to diversify holdings. In principle, preference should be given the currency in which the expected most major spending. If funds permit, you can look at the cheapening of foreign real estate or invest in art.

Quote from here: http://www.quote.ru/stocks/news/2008...32119209.shtml

[Евгений]

Сообщение от Vladimir

, or to invest in art

Good advice, especially since the

multibillion-dollar losses of shareholders who have invested in mutual funds shares.

Money is only a few will ...

[Евгений]

What is the reason that investors are once again on the stock exchange to sell shares in Russian companies, many of which, after yesterday's fall began to cost less than the value of equity?

Читать дальше... 

Russia's media business associate crisis in the stock market with a much larger scale - with the liquidity crisis has engulfed Russia's banking system. For ordinary Russians, the latter is much more dangerous - if not drop the RTS and MICEX, the depositors may suffer only mutual funds and a number of investment banks, the liquidity crisis facing the temporary non-performance of obligations in a number of banks. If, however, will panic and investors will start massively collect the money from their accounts, the collapse may have been a financial disaster.

Because the outflow of capital from Russia, which has accelerated sharply since the beginning of the war in South Ossetia, as well as due to the fact that Western bankers are very reluctant to lend to Russian colleagues, from domestic financial institutions simply ran out of money.

The first signals of liquidity crisis, banks have already submitted a couple of weeks ago, when they began to take on one-day auctions Savings Bank, hundreds of billions of rubles. In addition, increased demand for money and the Finance Ministry, which are issued under the deposit auctions.

However, in the "Black Tuesday", as claimed by Russia's business media, the crisis has reached unprecedented proportions. Thus, the Vedomosti newspaper drew attention to the fact that the interbank lending rate for overnight loans reached 15 percent per annum. This small banks to attract funds have been impossible.

"Soon we all have a lot of free time, then the rest" - such a grim jokes leads traders 17 September newspaper Kommersant.
 
In addition, market participants interviewed by the newspaper, argued that the major players in the market - Sberbank, VTB and Gazprombank - have practically stopped lending to banks. That, in turn, to obtain funds for normal functioning, had to sell their shares Russian companies. This has created additional pressure on the market.

One of the first victims of the crisis could become (or already has) investbank "KIT Finance". According to all the same newspaper Vedomosti, the organization was unable to fulfill obligations to the counterparties of 6-8 billion rubles. In order to somehow improve the situation, "KIT Finance" began to market the securities owned by him "Rostelecom", eventually collapses capitalization carrier.

Another victim of the crisis may be companies that are credited against their shares. It is possible that they are due to lack of liquidity can change ownership, and some - go bankrupt, the newspaper Kommersant. This scenario seems plausible, since the summer of 2008 the market had already started a technical default of a number of companies "third tier", that is, small-scale, but have access to the stock exchange companies.

Smaller banks just leave derailed ..
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However, their savings in banks amount to more than 100 thousand rubles, "should be thoughtful," said in a live radio station Ekho Moskvy, Managing Director of Troika Dialog, Pavel Teplukhin.

He recommended that such depositors to turn to experts to find out whether or not to withdraw their assets. " P. Teplukhin explained that some smaller banks may burst in the current crisis. P. Teplukhin noted that those whose contributions do not exceed 100 thousand rubles, nothing to worry about.

[Евгений]

Yesterday in the Ministry of Finance held a meeting with Finance Minister Kudrin representatives of 50 banks and the heads of the two banking associations. Bankers suggested that the head of the Ministry of Finance to temporarily install a full guarantee on deposits, regardless of their amount, to reassure depositors into a fuss. Kudrin promised to consider this proposal.

[Кирилл Сызранский]

http://mignews.co.il/news/economics/...240_04202.html
I wonder how many buck will be worth tomorrow in currency exchange?

[Евгений]

Cyril Syzransky, can only invest in antiques, good pictures ..

Today the Bank of Russia must give the actual answer to last Friday's rumor about one-stage sharpening of the depreciation of the ruble against the dollar, which has already caused the weekend demand for cash dollars, and the ruble exchange rate in exchange offices on Saturday to Sunday to a level higher than 27 rubles. /$ (At the rate CB - 26,25 USD ./$).
http://bankir.ru/news/newsline/20.10.2008/164197
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Currency Exchange (12 hours), the ruble has appreciated by 12%to see what the afternoon will be.
http://www.micex.ru/markets/currency/today