Local Ukrainian stocks were little-changed on Friday (Aug 30) despite losses of at least 1% in each of the three main European indices. Meanwhile, US markets were sluggish ahead of what is expected to be a volatile opening to September, as speculation ramps up about whether the Federal Reserve might decide to delay its “tapering” of USD 85bn per month in bond-buying stimulus. The UX index inched down 0.2% to end at 839 points. The day’s most notable movers were Alchevsk Steel and Yenakievo Steel, which each fell 1.0%; the former now sits at an all-time UX low of 3.76 kopecks. Raiffeisen Aval shed 0.8%, while Motor Sich recovered from an intraday low of UAH 1676 to finish with a drop of just half a percent. Outside the UX basket, there was more volatility for UkrTelecom, this time to the upside, as the stock jumped 19.8% on unusually high turnover of UAH 2.7mn. In London, MHP finally found a bottom after a fall of some 20% over the last 3 weeks, rebounding by 4.9% to USD 15.00.
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