Comments and pre-market: Eavex Ukraine Market Monitor: Aug 28

Ukrainian equities sold off in line with the major global markets on Tuesday (Aug 27), suffering their largest 1-day decline in 5 months, as investors braced for the fallout from what looks to be a near-certain Western military strike against the Syrian government. The UX index lost 1.9% to close at 848 points. DonbasEnergo (DOEN), the best-performing local stock over the summer, was the biggest loser, falling 5.3%. Motor Sich (MSICH) continued to slide backwards into territory not seen since the pre-QE2 days of 2011, dropping 2.9% to UAH 1711 on volume of UAH 10.3mn. Alchevsk Steel (ALMK) and CentrEnergo (CEEN) were both down 2.0%, and Raiffeisen Aval (BAVL) shed 1.6% to 9.77 kopecks. Outside the UX basket, UkrTelecom (UTLM) was the day’s most notable winner, adding 3.2%. In London, JKX Oil & Gas (JKX) and MHP (MHPC) saw respective losses of 4.0% and 2.1%, with the latter ending at USD 15.35.

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Eavex Ukraine Market Monitor: Aug 28