15 June 2004 16:38
Russia: Yukos shares hit lowest level in over two years
[Presenter] Yukos shares are continuing to fall. Analysts link it to yet another batch of bad news about the oil
company, especially the news that the holding company may carry out an additional issue of shares in order to cover its
tax debts.
[Correspondent Nataliya Shopen] In the Russian Trading System, Yukos shares have fallen by more than 14 per cent, RBK
has reported. At midday today [at 0800 gmt], the fall was not more than 8 per cent.
Most other shares are also finding it hard to resist the downward trend: LUKoil has fallen by almost 4 per cent,
Norilsk Nickel by 3 per cent, UES [Unified Energy System] are trading at a level slightly lower than that at the end of
the previous trading day.
At the Moscow Interbank Currency Exchange, Yukos shares have dropped by over 11 per cent. All blue chips have fallen
by an average of 3 per cent.
[In a later report, at 1109 gmt on 15 Jun 04, Russian Ekho Moskvy news agency, Moscow, in Russian, quoted a Finmarket
analyst, Andrey Lusnikov, as saying that Yukos shares had hit their lowest level in the last two and a half years. They
are now trading at 6.5 dollars, whereas only two months ago they were worth 15 dollars a share, Lusnikov said.]
[Ekho Moskvy radio] |
RUSSIA IN FACTS
