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Monday, December 22, 2014

Russia's Rosneft says trading deal with Morgan Stanley annulled, (NYSE: MS)

Russia's top oil producer Rosneft said on Monday that the deal to acquire an oil trading business from Morgan Stanley has been terminated due to refusal from the United States' regulators to clear it. "Having invested substantial efforts in the deal, the parties regret that it could not be completed. Despite this, the parties continue to cooperate in other spheres," Rosneft said.

Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.08% or $0.41/share to $38.51. In the past year, the shares have traded as low as $28.31 and as high as $38.63. On average, 10132700 shares of MS exchange hands on a given day and today's volume is recorded at 12534940.