17 June 2004 19:18
Trading in soaring Yukos shares suspended following Putin`s remarks
Moscow, 17 June: The Russian Trading System (RTS) stock exchange suspended trading in Yukos shares at 1700 Moscow
time [1300 gmt] for one hour because of a sharp rise in the share price.
Interfax-AFI learnt at RTS stock exchange that by that time the average price of Yukos shares had reached 7.23
dollars per share, up 12.08 per cent on the opening price, which exceeds the 10-per-cent threshold set out in the stock
exchange's trading rules.
Thus, trading in the shares of the company has been suspended until the end of the day as he session ends at 1800
Moscow time.
Such a significant surge of share price was a result of the market's reaction to the statement by Russian
President Vladimir Putin, who said that the government was not interested in the bankruptcy of the oil company.
[Interfax news agency] |
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