Ukrainian equities ended lower on Thursday (Jun 20), though by considerably less than the main European indices, which got clobbered to the tune of 3% as investors began to see the end of US quantitative easing as a question of when, not if. A shortage of sellers at current pricing levels appears to be supporting the local market from sharper drops on global volatility. The UX index lost 1.5%, closing at 847 points. The UX’s recent top two performers, CentrEnergo and DonbasEnergo, were the day’s heaviest decliners, sliding 2.5% and 3.0% respectively on combined turnover of UAH 2.7mn. Motor Sich dropped by 1.3% to UAH 1968, while Alchevsk Steel (+0.2%) outperformed the rest of the UX basket thanks to a launch ceremony for the company’s new in-house power station attended by President Yanukovych. In London, all the top Ukrainian names were hit, led by Avangard’s slump of 8.2% to USD 8.40, and Kernel was down by 5.1% in Warsaw.
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