Financial markets demonstrate stability

Financial market demonstrate stability

According to the data of the exchange, the Russian stock market weakly

reacted to the statement about the possible resignation of Finance

Minister Alexei Kudrin, and the currency market practically ignored it ,

President Dmitry Medvedev proposed to Kudrin to resign if he does not

agree with his policies. On Sunday, the finance minister said that he

does not see himself in the government of Medvedev because of

disagreements on some issues, primarily on military spending.

After these statements the MICEX index dropped from 1369 points to

1353 points and the RTS index - from 1339 points to 1324 points. Thus,

the decline in major indices amounted to about 1%. In this case at the

moment of closing the market was still in positive at 0,8-2,2%

Dollar exchange rate continued to trade near the mark of 32.4 rubles,

Euro - about 43.6 rubles, currency basket worth 37.48 rubles.

Russian President Dmitry Medvedev on Monday at a meeting on economic

issues urged not to panic due to the instability in global financial

markets and closely monitor the current situation.