Analysts foresee no YUKOS' gains on market

The expected unfreezing of shares of Tomskneft and Samaraneftegaz will have no impact on the price for YUKOS securities, MDM Bank analysts foresee. This decision is reflected in the current prices for YUKOS stocks, they say. An arbitration court will hold hearings today, where YUKOS' appeal against the decision to freeze shares of its oil producing subsidiaries may be sustained. If any positive decision emerges before the market closing, YUKOS will likely edge higher, however the current price for YUKOS stocks reflects the corresponding positive court ruling after the Moscow Arbitration Court has called the seizure of YUKOS' oil producing subsidiary Yuganskneftegaz not corresponding with Russian laws, experts point out. The situation around YUKOS is uncertain, as one cannot foresee future actions of Russian bailiffs. Thus, the company still cannot fund its day-to-day operations due to the seizure of its bank accounts. The possibility of YUKOS' halting oil production will affect budget revenue from taxes in the short term and may contribute to an increase in global oil prices.

However, YUKOS press secretary Alexander Shadrin has denied the information about the company's decision to drop its complaint against the actions of Russian bailiffs, who had frozen shares of Tomskneft and Samaraneftegaz, released by certain mass media.