OREANDA-NEWS. On the morning of July 29, Yandex shares fell on the Moscow Exchange, according to the data of the auction. At the beginning of the auction shares fell to 2423 rubles, according to 10:15 Moscow time. The fall was more than 3%. On Friday, July 26, at the end of trading on the American NASDAQ stock, Yandex N.V. began to decline compared with the previous trading day. At 21:50 Moscow time, the decline was 5.88%, to $ 36.15 per share.

At the same time, the opening price was $ 40.3, which is almost 5% higher than the closing price on Thursday. During the day, the growth of quotations reached 10% amid the company's positive financial statements for the second quarter of 2019.

However, closer to 5:00 pm Moscow time, the deputy of the largest Russian party, Anton Gorelkin, submitted a bill to the State Duma that limits the share of foreigners to 20% among the owners of significant sites. For violation of this requirement, it's proposed to prohibit advertising on these resources and advertising the resources themselves at other sites. Yandex’s parent company is Yandex N.V. of the Netherlands, and its shares are traded on the NASDAQ exchange. Arkady Volozh, who owns a package of about 10% of the shares (and almost 50% of the vote), is a citizen of Russia and Malta. The company itself negatively evaluated the initiative. A few minutes after this action Yandex N.V. let's go down. The minimum price since the beginning of the trading day was $ 35.84.

“The company showed good reporting, the figures were above the consensus, it raised the forecast for the results of 2019, Yandex.Taxi is developing well. The reasons for the negative dynamics of quotations are beyond the financial reporting”, said Uralsib analyst Konstantin Chernyshev. He recalled that from time to time there are initiatives aimed at equating Yandex with information resources, although, in fact, it is not, and extending restrictions on foreign capital to the company.