Comments and pre-market: Eavex Ukraine Market Monitor: Aug 1

Ukrainian blue chips were mixed on Wednesday against a marginally positive European backdrop. In New York, Wall Street finished flat after a Federal Reserve statement that contained no surprises; the central bank said nothing to indicate an imminent pullback from its monetary stimulus policy, but that was not enough to push the S&P 500 over the 1700-point barrier, which has emerged as a key resistance level to further growth in equity prices. The UX index finished unchanged at 889 points. Banking names Raiffeisen Aval and UkrSots were the day’s biggest movers, sliding 2.5% and 2.9% respectively. On the upside, DonbasEnergo added 1.8%, beaten-down Alchevsk Steel managed a 1.0% gain to 3.98 kopecks, and Motor Sich edged up 0.7%.

In Warsaw, Kernel lost 3.1% to PLN 50.10, while it was a rather quiet day for Ukrainian issues listed in London; Ferrexpo edged down 0.7% to GBp 169

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Eavex Ukraine Market Monitor: Aug 1