Source Pravda.Ru

News of LUKoil's high-ranking officer kidnapping sends its stocks tumbling

The decline of LUKoil's shares is "the market's first emotional reaction"to the kidnapping of the company's Senior Vice President, Sergey Kukura - areaction that is not related to the overall efficiency of the company'soperations, Kirill Tremasov, an MDM-Bank analyst, said. According to him,this market's reaction will be short-lived. The analyst recommendsabstaining from any operations with LUKoil's shares for the time being,however, if the company's shares demonstrate a steady falling trend, it maybe used to buy LUKoil's stocks. As it was earlier reported, on September 12unknown people kidnapped Senior Vice President of LUKoil Sergey Kukura inthe vicinity of Vnukovo of the Moscow region. There is no data on hiswhereabouts so far. It is also noteworthy that as soon as this news wasdisseminated, it had sent the company's stocks tumbling by 3 percent. .

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