Ukrainian stocks spent all of Monday’s (Apr 15) session in the red on negative external sentiments, with global prices for commodities – particularly gold – moving sharply lower after China’s latest GDP growth figure fell moderately short of expectations. Later in the day, the major US indices exploited the situation to stage their first significant pullback since a 5-week run of new record highs. The UX index lost 1.9% to close at 805 points; in today’s session the strength of the UX’s recent support level at 800 will likely be tested. Steelmakers bore the brunt of the Monday selling, with Alchevsk Steel, Azovstal, and Yenakievo Steel posting respective losses of 3.9%, 1.9%, and 2.4%. DonbasEnergo was also hit, dropping 3.5% to UAH 18.70. Top liquid issues Motor Sich and CentrEnergo shed 1.5% and 1.3% respectively on combined turnover of UAH 6.6mn. Outside the UX basket, Pivnichny GOK got hammered, losing 19.5% as investors appeared to price out the possibility of a generous dividend announcement at the company’s annual meeting later this week.
In London, Ferrexpo sold off by 8.1% on bearish commodity price sentiments, and MHP lost 2.2% to USD 16.80.
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