17 June 2004 08:22
Yukos climb nears 35%, pulls up market
MOSCOW. June 17 (Interfax) - Yukos shares flew up by almost 35% on Thursday and pulled the rest of the market up to
levels seen a week ago with most blue chips jumping 2.7% to 13.7% and the benchmark RTS index surging 10.1% to 587.1
points.
Yukos climbed first in reaction to news that Menatep Group, a major Yukos shareholder, was ready to provide the
government with a guarantee for the oil major's tax debt payments, and then after President Vladimir Putin said the
government did not want Yukos to go bankrupt.
Trading with Yukos shares was suspended to the end of trading on the RTS and to 6:10 p.m., Moscow time, on the MICEX.
The share price on the RTS was up 20% to $7.4 when trading was stopped.
On the RTS, prices climbed 9.1% for Unified Energy System, 13.7%
for Norilsk Nickel, 10.4% for Lukoil, 2.7% for Mosenergo, 3.5% for
Yukos shares continued to climb when trading was resumed on the MICEX and this pushed the MICEX composite up by more
than 8%, causing MICEX trading to be stopped at 6:25 p.m. Yukos shares were up 34.9% to 255 rubles.
The market was strongly oversold over the past few days so it was ready to react to the statements from Menatep and
then the president, said Yevgeny Volkov of MDM Bank. "I think the time simply came for an upward correction
throughout the market and the news about Yukos helped to achieve this," he said.
"The market still has the potential to climb, but there is a hearing for the Tax Ministry case against Yukos on
Friday so the market will be nervy," Antanta Capital trader Alexander Pankov said.
Rostelecom, 8.1% for Sberbank, 9.3% for Surgutneftegas, 12.5% for Sibneft, and 5.4% for Tatneft.
Trading volume totaled $43.317 million on the RTS (including $23.713 million in direct deals), and over 21.8 billion
rubles on the MICEX.
Gazprom shares on the St. Petersburg went up 4.6% to 58.25 rubles in volume of over 35.079 million shares.
The S&P/RUX composite ruble index soared 9.13% to 733.45, and the index in dollars also added 9.13% to
150.63.
The MICEX composite surged 9.13% to 556.0. [RU ASIA EUROPE EEU EMRG STX MET ENR ELG TEL E BNK INSI] me
[Interfax] |
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