Author`s name Pravda.Ru

YUKOS shares drop amid negative news

YUKOS stocks lost 7 percent on the Moscow Interbank Currency Exchange at 11:30 a.m. Moscow time amid information about a possible default on a $1.6bn export credit.

The Russian stock market opened with a confident advance in all traded securities. YUKOS added more than 3 percent in the first minutes on MICEX. RAO UES, Norilsk Nickel and LUKoil became 2 percent more expensive. However, after YUKOS's press service reported about the notification received, the company's shares started decreasing.

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