Rouble at all-time lows, Moscow stocks plummet on Ukraine

[okaawhatever]

(Reuters) - Russian asset prices plummeted on Monday, with the rouble hitting an all-time low against the euro and the dollar, and stocks losing 7 percent after President Vladimir Putin declared the right to invade Ukraine at the weekend.

At 0620 GMT the rouble had fallen 2.5 percent to 36.60 against the dollar and it was also down 1.5 percent to 50.30 against the euro.

SNIP

"Russia's decision to (claim the right to) send troops to Ukraine will force long-term investors to think twice about buying," analysts at Freedom Fiance investment house in Moscow wrote in a morning note.

The key question is whether any country will move beyond verbal threats to punish Russia and impose sanctions.

The rouble lost as much as 6 percent over the weekend at privately run exchange booths, where the spread between buying and selling increased up to tenfold from an average of 20 kopecks.

"We were not ready for this, we have not stocked up," a teller at a small exchange said on Sunday, adding that her booth, which is open 24 hours a day, ran out of dollars by Sunday morning.

[freshwest]

1. Uh, that's some fallout. And... they use US dollars there? n/t

[PFunk]

2. And the ecconomic fallout begins

more to come (probably directed at Russia itself).

[RobertEarl]

3. Putin: You hear that?

We don't want no damn war. It will cost you big time if you fire one shot. The people are sick of it.

[dipsydoodle]

4. GLOBAL MARKETS-Stocks rebound as Putin says no need for force in Ukraine.

NEW YORK, March 4 (Reuters) - Global equity markets and other risk assets, including hard-hit Russian securities, rebounded on Tuesday after Russia's president said he saw no need to use military force in Crimea for now, remarks investors saw as intended to ease tensions over Ukraine.

President Vladimir Putin delivered a robust defense of Russia's actions in Crimea, but he also sought to ease East-West tension over fears of war in the former Soviet republic. His comments reversed most of the markets' moves on Monday.

Russian stocks jumped 5.3 percent, recouping half of the previous day's losses, while gold and the Japanese yen , traditionally seen as safe havens, fell. The rouble rose 1.1 percent to 36.100 to the dollar.

Putin told a news conference that Russia's use of force in Ukraine would be a choice of "last resort" and that sanctions being considered against Moscow by the West would be counter-productive.

http://uk.reuters.com/article/2014/03/04/markets-global-idUKL1N0M10VV20140304