Some 40,000 cyclists taking part in Moscow cycle paradeSociety & Culture May 28, 18:33
Corporation Irkut: MS-21 first flight performed in routine modeBusiness & Economy May 28, 16:54
Ukrainian military launch more than 180 shells, mines on Donetsk within one dayWorld May 28, 16:36
Minister: Russia may supply 1,000 MC-21 planes to 2037Business & Economy May 28, 14:42
Lavrov: China, ASEAN interested in organization of Eurasian partnershipRussian Politics & Diplomacy May 28, 11:45
MC-21 airliner makes first test flight - sourceBusiness & Economy May 28, 11:00
Putin congratulates Border Guards on their professional holidayMilitary & Defense May 28, 10:57
Ukrianian court puts on hold lawsuit against ban on Russian social networksWorld May 28, 6:10
Russia’s Lasitskene wins high jump in Diamond League event in Eugene, USSport May 28, 4:59
NEW YORK, November 15, 16:11 /ITAR-TASS/. American depositary receipts (ADR) of the debt-stricken Russian company Mechel closed 11.82% ($0.26) up at $2.46 on New York stock exchange on Thursday after plunging 23% on Wednesday.
Meanwhile, on the Moscow stock exchange Mechel’s common stocks added 12% on Thursday after a collapse by 41.4% a day earlier. The company’s preferreds rose 8% against a 23% dip a day before.
Amid scarce corporate news, experts explain the downfall in Mechel’s stocks with investors’ doubts as to whether negotiations about debt restructuring will be successful.
The Mechel Group’s facilities produce coal, iron ore concentrate, steel, steel products, ferroalloys, high value-added products, thermal power, and electricity. In 2012 Mechel reported a net loss of $1.66 billion due to impairment of assets. Its revenue totaled $11.3 billion, EBITDA - $1.3 billion. As of March 31, 2013 Mechel’s total debt was $9.3 billion.