Just across the wires - via Interfax:
Moscow (Dow Jones)–Russian President Dmitri Medvedev said Tuesday that Russia is ending its current military operations against Georgian forces because it has achieved its goals, according to Russian state TV.
Russia’s main equity index - the RTS - up 3.69 per cent. Signs of a bounce?
Informed comment from Lex:
Factors supporting previous Russian market bounces - rising oil prices, massive amounts of foreign capital - are lacking. Though a full ceasefire will almost certainly see the beginning of a market bounce, a full recovery will be harder and take longer to achieve.
Related links
Medvedev orders ceasefire - FT
Russia, Georgia & Oil: A rock and a hard place - FT Alphaville
