Ukrainian stocks spent all of Wednesday (Mar 27) in the red after brief gains at the opening, falling in line with European shares as it became clear that the Cyprus banking crisis has yet to fully play out despite the agreement on a depositor bail-in over the weekend. The UX index ended lower for a 6th consecutive session, dropping by 1.5% to close at 894 points. UkrNafta continued to slide back toward UAH 120, the level where it had been positioned prior to unfounded rumors of an approaching large dividend payout, with a 5.2% loss on turnover of UAH 1.6mn. Top liquid names Raiffeisen Aval and Motor Sich were also hit, losing 3.4% and 2.4% respectively, with the latter trading as low as UAH 2200 intraday. Among the 10 UX basket components, only Azovstal saw some buying interest, rising by 0.5%. In second-tier issues, UkrTelecom slipped 2.8% to just above 13 kopecks on some large deals, while beaten-down Stirol rebounded by 5.5%.
In London, MHP sold off by 4.5% and Regal Petroleum slumped 10.6% to GBp 23.05, while Avangard added 3.1% to get back above USD 8.
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