in the second quarter of two thousand and ten slightly worse than expected russia's ministry of economic development of estimates of g.d.p. at five point four percent. that's a quick look at how the markets are doing asian stocks are down for the third straight session on thursday thoughts on growing fears over economic growth the dollar studied having seen its biggest gain in nearly two years as market price for the risky assets commodity prices have taken a hit on news of a larger than expected u.s. trade deficit and a downgrade of his great full cost by the bad things and. bought to european stocks ohio for the first time in three days after a bigger than expected profit rise in shares in the heinz of push the world's biggest brewer have climbed the most in three months even though ronnie in food and beverage companies telecoms on the pharmaceutical sector are also lending some support on the footsie. russian markets ohio. midday in moscow the r.t.s. is only just edging into the black my sex is gave me half a percent and as you may just a leading the games that have to is outperforming up one and

the second quarter of two thousand and ten slightly worse than expected of russia's ministry of economic development to the estimated g.d.p. of five point four percent. and those high inflation figures are likely to leak into the banking spat with the refinancing rate and therefore the lending rate appreciating. ports. russia's inflation rate has been sliding lower from fifteen percent two years ago to well under six percent at the end of the first half of this here but those days are on a missy with the economic grip bounden drought f.x. food prices meaning the road ahead is. water more widely below six the sound thought they may or may it's true that russia. doesn't have enough time to allow its quite near the full benefit of this favorable mancow conditions because right now with excel written. it would there. well we'll see some upward pressure on really interest rates which in a way will have to the fall of the inflation the drop in inflation has give the central bank room to slash their refinancing read fourteen consecutive times to seven point seven five percent in the last year and a half to

second quarter of two thousand and ten slightly worse than expected earlier russia's ministry of economic development have estimated g.d.p. at five point four percent. and now it's time to have a quick look at the markets asian stocks are down for the third straight session on thursday that's all growing fears over economic growth but dollar has studied having seen its biggest gain in really two years as market players really risky assets commodity prices have taken a hit on news of a larger than expected u.s. trade deficit and a downgrade of christmas growth forecast by the by i think that. the russian markets are mixed in early trading here in moscow the my sense is bucking the global downward trend just edging into the black energy names are dragging that as our planks need to be answered by both shedding more than half a percent so far. russian mobile phone major venable com is in talks to buy two international operators the company aims to acquire one hundred percent of italian mobile operator wind and a controlling stake in all of us telecom which operates in asia and africa buying both what. s

developing ministries keeping their official g.d.p. forecast comparatively low at some two point seven percent despite much higher growth figures four and five percent being floated a key part of that economic growth is investment and global investors keeping an eye on russia's developments with bonds into russia posing over the last week or so mostly just if we're talking about the fund markets in the first week of august we've seen an income of seventeen million women all developing countries who've rule received three hundred six billion. since the beginning of two thousand and eight so the international investors have taken a break from the industry interruption from the situation. and other the impact of the fires and drought will certainly be reconstruction of building an infrastructure in central russia and support for agriculture that will add to the government outlays and is likely to have something impact on the budget deficit but probably the biggest concern at the moment is the potential for grain prices rises to flow through into food price inflation the devastation fires in central russia might take not just grain prices which flow straight through to bread and a number of oth