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Norilsk Nickel Lost ¼ of Capitalization in 2hr
Global nickel giant Norilsk Nickel of Russia shed over 24 percent on RTS October 6, having lost nearly a quarter of capitalization during two trading hours.
The worth of other companies is going down as well. Another losing leader is Sberbank that has sunk by more than 13 percent. Besides, RTS has suspended trading in Tatneft and Uralsvyazinform common stocks and in preferred stocks of Sibirtelecom.
MICEX halted the trading in UTK, MOESK, Irkutskenergo and North-West Telecom.
One of the reasons of Norilsk Nickel decline could be the global drop in metal prices. Another reason is probably the conflict of company’s principal holders. As to Sberbank, it is going down on the lack of investors’ trust in financial institutions that suffered from financial turmoil more than any other companies.
www.kommersant.com
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