Most Ukrainian blue chips were lower on Monday (Sept 2) despite a strong rally in Europe, with the local market dragged down by Motor Sich after comments from CEO Viacheslav Boguslayev that a free trade deal with the EU will hurt the company. Meanwhile, stocks in Frankfurt, Paris, and London jumped on PMI data that showed signs of a sustained pickup in the big Eurozone economies, with the DAX gaining nearly 2%; US bourses were shut for the Labor Day holiday. The UX index fell 1.1%, closing at 831 points after recovering somewhat from an intraday low of 821. Motor Sich lost 4.6% to UAH 1610, its lowest closing price since the autumn of 2009, and UkrNafta slid 2.8% to UAH 108. CentrEnergo and Alchevsk Steel retreated by 1.4% and 1.0% respectively, while Metinvest Steel names Azovstal and Yenakievo both finished in the black with respective rises of 1.0% and 1.5%.
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