The London Stock Exchange lost 3.05%, Frankfurt – 5.13%, Paris –
5.45%, Milan – 6.65% and Madrid – 5.49%, ITAR-TASS reports.
The European currency rate dropped by 1.42%, with the euro worth
1.4187 dollars. The panic was caused by rumours such as the collapse
of Societe Generale Bank and the suspected drop of France's credit
rating, which may have a similar effect as Standard&Poor’s rating of
the USA. Moody’s and Fitch and S&P confirmed the high rating of
France.
The Dow Jones index dropped by 4.62% (15% this week), Standard&Poor’s
500 – by 4.42%, the NASDAK – by 4.09%. The situation is similar to the
one in late 2008. The president of Excels Investment Advertisers,
Cliff Drown, said that special attention is paid to rocketing oil
prices at the New York Exchange. Contracts for WTI oil increased in
price by $3.59 to $82.89 per barrel.
The Tokyo exchange saw a drop in the Nikkei of 1.29% and TOPICS by 9.76 points.
Gold prices increased to $1797.95 per ounce. Gold prices increased
from the shares from 3.78% to 7.00%.
US commercial oil reserves dropped by 5.23 million barrels, despite
forecasts by experts. Oklahoma has seen its oil reserves drop by 1.37
million barrels since November 2010.
Brent oil increased in price by 4% in London.
Russian Finance Minister Alexey Kudrin will fulfil Prime Minister
Vladimir Putin’s demand to pay off deposits in banks with a sum of 160
billion rubles from the state budget, Vedomosti reports.
The minister put 40 billion rubles on the deposit, although usually he
puts in 10-20 billion. The next two deposit auctions will have 80
billion rubles.
The auction on August 9 reached about 95 billion rubles. The minister
put 40 billion in until December 21 at a rate of 4.74% annually.
