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Gold/Mining/Energy : Gold Price Monitor

GDXJ 120.00

+2.0%

Dec 22 4:00 PM EST

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To: Karen E Hoof who wrote (16299)	8/21/1998 12:09:00 PM
From: Alex	Read Replies (1) of 116822

DEUTSCHE BANK CONFIRMS MAJOR GERMAN BANKS MEETING ON RUSSIA ÿÿÿÿÿFRANKFURT (MktNews) - Major German banks are conferring on the precarious financial situation in Russia, a Deutsche Bank spokesman confirmed Friday. ÿÿÿÿÿNo Russian officials are present at the meeting, the spokesman said, adding that it was not yet clear whether the conferring banks would issue a statement at the end of their meeting. ÿÿÿÿÿWith some $30 billion in outstanding credit, German banks are among the most heavily exposed to the financial crisis in Russia. ÿÿÿÿÿA remark by Russian Prime Minister Sergei Kiriyenko on Friday that Russia was only at the beginning of a serious financial crisis further rattled the financial markets and unleased a fresh wave of safe-haven flows into European and North American securities, especially government bonds. 06:18 EDT 08/21 c 1998 Market News Service, Inc. economeister.com

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