Most Ukrainian blue chips were lower on Thursday (Sept 5), although European stocks rose on optimism about the ECB’s promise to intervene to maintain low long-term interest rates. In the US, investors reacted unenthusiastically to news that the US services sector grew at the fastest pace in 8 years, as bullish numbers would appear to strengthen the case for a reduction in central bank stimulus starting later this month. If today’s US jobs numbers for August (set for release as 3:30pm Kyiv time) are strong, this could be seen as sealing the deal for the Fed’s “tapering” announcement at its Sept 17-18 meeting. The UX index edged down 0.4% to close at 826 points. Leading the decline were Raiffeisen Aval, which lost 1.8% to 9.29 kopecks, and Yenakievo Steel, which shed 2.2%. The benchmark was saved from a significantly larger drop by firm support for Motor Sich, which added 1.2% on volume of UAH 5.5mn. In London, Regal Petroleum continued to slide on speculation about the company’s upcoming 1H13 financial release, dropping 11.0% to GBp 13.10.
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