On this morning’s more hopeful news, it’s up nearly 4% in midday trading, but is down by 20.4% year-to-date.
The drop on Friday was dubbed an “emotional” response. Georgia says bombing is still continuing in two villages, and Russia reserved the right to resume attacks if it encounters fighting or resistance.
If the fight does pick up again, analysts say that it should have a “negligible” effect on the economy. Monday’s recovery was seen as a token of willingness on the part of investors to accept risk and volatility in return for a piece of Russia’s mineral, oil and gas wealth.