Comments and pre-market: Eavex Ukraine Market Monitor: Aug 2

Locally-listed Ukrainian stocks were left in the dust by a surge in global equity prices on Thursday (Aug 1), as investors apparently see a “best of both worlds” scenario developing in which large-scale monetary easing will continue simultaneously with an improving outlook for economic growth in the United States and Japan. The S&P 500 smashed through the 1700 point barrier and the DAX jumped by 1.6%, with both benchmarks reaching new all-time highs. The UX index, on the other hand, ended flat for a second straight day at 889 points, with few notable changes in the top local names. Raiffeisen Aval was the lone exception, adding 1.2% to 10.33 kopecks, while CentrEnergo edged down 0.7% on volume of UAH 4.2mn.

In London, the global rally lifted Ferrexpo and Avangard, which rose by 2.8% and 5.5% respectively. In Warsaw, high-flying Astarta slipped back by 1.6% and KSG Agro dropped 2.6% to PLN 11.30.

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Eavex Ukraine Market Monitor: Aug 2