Comments and pre-market: Eavex Ukraine Market Monitor: Aug 30

Most Ukrainian blue chips were lower for a third straight session on Thursday (Aug 29), despite a moderate technical rebound on European bourses as investor fears over the consequences of a limited US-led military intervention in Syria subsided somewhat. The UX index slipped 0.4% to close at 842 points. The benchmark was dragged down by selling in UkrSotsBank and Raiffeisen Aval, both of which lost 2.2%, and UkrNafta retreated deeper into 4-year low territory with a 1.6% drop to UAH 110. Volume leaders Motor Sich and CentrEnergo were both nearly unchanged, while DonbasEnergo bounced back from two sessions of sharp declines with a 1.1% gain. Outside the UX basket, Stirol finally halted a miserable run of losses with a 3.6% rise to UAH 9.40.

In London, MHP got pounded again, sliding 5.3% to USD 14.30 following an afternoon conference call with analysts to explain its first-half financials, and Ferrexpo dropped 2.5% on bearish short-term iron ore pricing expectations.

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Eavex Ukraine Market Monitor: Aug 30