Local Ukrainian stocks avoided a second consecutive session of sharp
losses due to new Russian restrictions on the country’s exports on Friday (Aug
16). The benchmark finished down just 0.2% at 875 points amid mixed external
sentiments and generally light summer trading volumes. Alchevsk Steel (ALMK),
Yenakievo Steel (ENMZ), and UkrNafta (UNAF) each fell 1.0% to lead decliners,
while Motor Sich (MSICH) inched down in line with the index, ending just above
the key support level of UAH 1800. CentrEnergo (CEEN) and UkrSotsBank (USCB)
both posted moderate rises of 0.4%, while outside the UX basket,
sporadically-traded Bogdan Motors (LUAZ) jumped 9.6% with a last deal at 4
kopecks. In London, Ferrexpo (FXPO) added 3.2%, but MHP (MHPC) continued to
slip, dropping another 1.5% to USD 16.75; the company has considerable exposure
to the Russian import regime. Kernel (KER) slumped 4.0% in Warsaw to PLN 48,
presumably on similar concerns.
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