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  Wednesday, October 23, 2019
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The Yukos shares that plummeted on all Russian stock exchanges have caused a drop in the entire market
Bids on Russian stock exchanges opened with a drop due to Tuesday's negative news background. Previously, aggressive sales of Yukos shares both on Russian and Western stock exchanges resulted from the company's tumbling credit rating and from official statements that the funds from Yuganskneftegaz's sales might not be enough to cover Yukos's debts. Against this background, positive expectations in regard to the company failed, and Yukos shares dropped taking the other "blue chips" with them. As of 1.40 pm Moscow time, deals with Yukos stocks on RTS were concluded at the rate of $3.45 per share and 102 rubles per share on MICEX. As compared to late Tuesday, Yukos stocks dropped 16.87% and 6.02% respectively. The remaining liquid shares decreased 1-3%. "The events around Yukos have once again attracted speculants' attention," said an analyst of Aton, Anatoly Kaplin. "The sharp decrease in this company's shares caused a drop in the entire market." But unlike the rest of the market, Gazprom's shares have gone up 1.64% to 77.68 rubles per share. According to Olga Belenkaya from Olma, this came after the statements of a representative in the Ministry of Trade and Economic Development that a company affiliated to Gazprom would be one of the possible bidders for Yuganskneftegaz
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