Mechel Declines as Coal Offsets Waiver: Russia Overnight - Bloomberg:
"OAO Mechel (MTL), Russia’s largest maker of coal for steelmakers, fell for a second day in New York as concern that prices for the fuel are dropping outweighed a pact that will allow the company to avoid defaulting on its debt.
American depositary receipts of Mechel (MTLR) slid 3.5 percent to $2.21 yesterday after touching the lowest level since the company listed in the U.S. in 2004. The ADR lost 68 percent this year. The Bloomberg Russia-US Equity Index of the most-traded Russian equities in the U.S. fell 1 percent to 98.57. RTS stock-index futures increased less than 0.1 percent to 143,270."
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