(13 Oct 2008)
Wide of MICEX exterior
1. Close up of entrance
2. Wide pan of trading floor
3. Close up of trader
4. Wide of trading traders behind a glass wall
5. Wide skyscrapers in Moscow's business centre
6. Tilt of building
7. Wide of Renaissance Capital investment bank office
8. Various of bankers at desks
9. Set-up shot of Tom Mundy, Equity strategist for Renaissance Capital
10. SOUNDBITE (English) Tom Mundy, Equity strategist for Renaissance Capital:
"So if Russian investors are seeing the oil price down around forty dollars, fifty dollars - well that affects the equity market, and in real terms, it definitely affects GDP growth. Now, if we see GDP growth going down to around five and a half percent, as the finance minister suggested over the weekend, that will trim the expectations for the Russian economy, and the power of the Russian consumer. And i think that's a very real, and significant impact from the credit crunch."
11. Pan of office
12. SOUNDBITE (English) Tom Mundy, Equity strategist for Renaissance Capital:
"Many domestic players in the Russian players in the Russian market are viewing this week as a crunch week. There's a lot of news flow-out. Not just have we got the rhetorical support from the G-7 and from the European leaders, we now have to see that actually implemented. We have a lot of the US bank results coming out this week - JP Morgan, Citigroup - are the big names. So investors will be keeping an eye on news flow as well as economic data, its course is extremely important. So any indications of an easing of economic growth of further troubles for the US housing market will be digested in Russia as (inaudible) being very important."
13. Various of office
14. Wide of street
15. People walking
16. SOUNDBITE (Russian) Vox Pop, Mikhail Pavlovich, pensioner:
"I don't have any savings, but I think it will be very difficult for Russia too, not to mention Europe, it will be very difficult for Russia. We live now quite far from the peak (of the crisis), but I think it will get worse."
17. Mid of men talking
18. SOUNDBITE (Russian) Vox Pop, Svetlana, shop assistant:
"Money is being spent much quicker now. You go shopping, bring your purchases home and then you see that you have bought just a few things, almost nothing - and the money is gone."
19. Wide of people walking past currency exchange offices
STORYLINE:
Russian stocks dropped on Monday on declining world oil prices and new struggles for control of the world's largest nickel miner, prompting regulators to suspend trading on one of the country's two exchanges.
The ruble-denominated MICEX was down 5 percent when trading was halted just after 3 p.m. (1100 GMT).
The other exchange, the RTS, was down 6 percent.
Trading had resumed on Monday for the first time since regulators halted operations on Friday after a seesaw week.
Tom Mundy, equity strategist for the investment bank Renaissance Capital, said the market was reacting Monday to oil prices, which hovered 80 US dollars a barrel Monday.
MICEX opened with lofty gains initially on speculation that the government might have started buying stocks following, implementing a plan announced last week by Prime Minister Vladimir Putin to spend billions of rubles on stocks.
The Federation Council on Monday approved an anti-crisis package, that includes increasing deposit insurance for private bank accounts and authorising the Central Bank to provide unsecured loans to banks.
Putin called Monday for quicker implementation of the measures.
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