Comments and pre-market: Eavex Ukraine Market Monitor: Jun 6

Most Ukrainian blue chips were lower on Wednesday (Jun 5), but the market again avoided the scale of losses seen in a broad selloff in all of the major global indices, led by the Nikkei’s drop of nearly 4%. The expiration of 6-month UX futures on Jun 17 along with a general lack of sellers appear to be providing a floor of support for local equities. The UX index lost 0.6%, closing at 851 points. Raiffeisen Aval (BAVL) fell 1.5% and Motor Sich (MSICH) declined by the same percentage to UAH 2060; the two issues saw combined turnover of UAH 4.7mn. CentrEnergo (CEEN) was down by 0.8%, while Alchevsk Steel (ALMK) added 0.9% after announcing a solid rise in output for May.

In London, Ferrexpo (FXPO LN) finally tumbled out of its recent narrow trading range, sliding 3.7% to GBp 161; Cadogan Petroleum (CAD LN) jumped 8.6% to above GBp 16.

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Eavex Ukraine Market Monitor: Jun 6