YUKOS surges at UTS

YUKOS jumped 9.2 percent to $4.75 on the RTS exchange on positive news. Thus, the embattled oil company was allowed to make payments using funds on its accounts, which resulted in YUKOS ADRs' surge in London. The announcement of the possibility of selling 56 percent in gas producing company Rospan to BP-TNK for $357m is a positive factor for YUKOS, as Rospan is its non-core asset unlike Yuganskneftegaz. YUKOS bought this stake in Rospan for smaller price, analysts point out. Other blue chips also headed higher at the opening. Rostelecom advanced 3.24 percent, LUKoil and Uralsvyazinform edged over 2 percent higher. However, experts say that one should not await a firm upward trend on the stock market as the news background may change at once.