Moscow's cache returns

Article Abstract:

The Russian stock market has hit bottom after the devaluation of the rouble and offers some good buying opportunities, despite speculation of an imminent civil war being offered by some traders. The Russian stock market has seen its value decline by 90 per cent in 1998, with the result that the country's financial services industry, particularly brokers, have been devastated; the Russian Securities Commission reports that 20% brokers, investment companies and financial services firms have gone out of business. While the news seems grim, some traders believe it offers huge upside potential, a point-of-view eschewed by most American and British money managers.

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Russia, Economic aspects, Stocks, Stock-exchange, Stock exchanges, Exchanges, Securities, Unified Energy Systems, Mosenergo

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Soros changes his tune over Britain and the euro

Article Abstract:

Financier George Soros, who made an estimated $1 billion in 1992 by speculating against the British pound, believes that the U.K. should join the euro. Soros, who was visiting London on a tour to promote his book, The Crisis of Global Capitalism, told members of parliament that the pound will come under severe pressure if it remains outside the euro. The pound is overdependent on the U.S. dollar, which makes the U.K. economy vulnerable to fluctuations between the dollar and the euro. Soros, who believes the euro will stabilize the European economies participating in it, feels the U.K. government must forge a close relationship between the euro and the pound.

United Kingdom, International aspects, Soros, George, Economic policy, Euro (Currency), Pound (United Kingdom), Monetary policy

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