Yukos shares were allowed to trade on the Moscow Inter-Bank Currency Exchange from December 2 by the Federal Financial Markets Service. Pending a special permit their trade on the exchange was suspended on November 24, 2004, because ruling share prices fell by 19.2% compared with opening prices, and in line with provisions contained in the rules on security market trading.
The Yukos shares at suspension time traded at roughly 40.5 rubles, or about $1.44 per share.
Traders explain the collapse on Thursday by technical adjustment to current prices, since over the week that Yukos was not traded on MICEX their prices on the Russian Trading System (RTS) fell considerably.
Following RTS trade on Wednesday, Yukos shares stood at 90 cents.
Igor Rubin, a trader for the investment company Metropol, believes that following the technical adjustment there may be a slight "rebound" (price growth) in Yukos stocks. He links this with new information on claims to Yukos from courts. Nevertheless, it will be speculative, since "everything is clear" with the company, Mr. Rubin added.
Analysts from the investment company Irma expect positive growth from Russian company stocks on Thursday. "A rally on world stock markets and the weakening of the dollar may sustain growth. But the inflow of funds to the Russian stock market is held back by political risks - a tense situation in Ukraine and a threat of reviewing, in one form or another, the results of privatization," it is believed in the company.
