Comments and pre-market: Eavex Ukraine Market Monitor: July 10

Locally-listed Ukrainian equities followed European shares higher on Tuesday (Jul 9), with global markets buoyed by a bullish start to the US corporate earnings season from US aluminum giant Alcoa. The UX index added 1.2% to close at 861 points. Raiffeisen Aval (BAVL) regained a chunk of its Monday loss with a 2.0% pickup, and CentrEnergo (CEEN) rose by the same increment to reach UAH 4.86, another fresh 3-month high. UkrSotsBank (USCB) and DonbasEnergo (DOEN) appreciated by 1.7% and 1.5% respectively, while volume leader Motor Sich (MSICH) edged up 0.6% on turnover of UAH 4.5mn. UkrNafta (UNAF) was unchanged, making it the day’s weakest blue chip performer.

In Warsaw, Kernel (KER PW) gained 2.0% to PLN 50.50, while in London, Ferrexpo (FXPO LN) was the big story of the day, jumping 12.2% after releasing second-quarter operating results that revealed impressive output growth at the company’s new Yeristovo Mine.

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Eavex Ukraine Market Monitor: July 10