‘It is the current Ossetian-Georgian conflict that was behind the stock market’s fall last Friday. This was simply bound to happen, since Russia got involved in this war and given the fact that information was very limited for a long period of time, while all the news from the West were positively anti-Russian,’ Eurogreen Investment and Finance Company’s General Director Evgeniy Kostarev said to UrBC.

The RTS index dropped by 2.92% on Friday and, as the negative trends continued into the weekend, the index fell by another 4.13% on Monday, August 11, 2008.

‘Things have got more or less back to normal by now, even though the state of the market was rather depressing on Monday. The certain recuperation has to do with more data becoming available and the whole situation getting clearer. The thing that affects the market most is the state of uncertainty, and this uncertainty kept jeopardizing the market on Friday and Monday morning. By now, everything is relatively stable,’ Kostarev added.

The expert believes the present going down of the global oil prices is not the decisive market factor at the moment.

‘The price decrease is serious enough, but, firstly, it did not begin yesterday and so it is by no means unexpected, and secondly, the drop more or less only affected the oil sector,’ Evgeniy Kostarev explained.