Ukrainian stocks were lower on Thursday (Sept 12), as top liquid name Motor Sich finally corrected after a run of 6 straight winning sessions and investors began to dial in on expectations of a 10-15% reduction in US monthly bond-buying stimulus at next week’s Federal Reserve meeting. Speculation also ramped up that Lawrence Summers will be appointed as the next US central banking chief, which provided some support to the dollar, as Summers is viewed as more hawkish on monetary policy than current Fed chairman Benjamin Bernanke. The UX index shed 0.7% to close at 841 points. Motor Sich was the biggest decliner with a 1.7% drop on turnover of UAH 6.4mn, while CentrEnergo and Raiffeisen Aval were by down 1.3% and 0.9% respectively. Alchevsk Steel was the only blue chip gainer, adding 1.1% to 3.82 kopecks. In London, Avangard picked up 3.2% to above USD 11, its highest level since January, after telegraphing a dividend payout of 25% of its FY13 bottom line.
full report
Eavex Capital welcomes any questions or comments you may have
regarding our research products.
Please contact our office in Kyiv at 380-44-590-5454, or by email:
Alexander Klymchuk, Head of Sales, [email protected]
Dmitry Churin, Head of Research, [email protected]
