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On Monday, shares of Russian coal and steel giant Mechel(NYSE: MTL) rocketed to close 36.3% higher on no apparent news. In fact, very little news could be expected, as the country is currently only about two-thirds of the way through a winter holiday season running from "new" Christmas on Dec. 25, through "old" Christmas on Jan. 7 -- and even "old" New Year on Jan. 14. In theory at least, very little should be happening in Russian business right now.
And yet, something did apparently just happen at Mechel.