Comments and pre-market: Eavex Ukraine Market Monitor: October 10

Local Ukrainian stocks ended moderately higher on Wednesday (Oct 9) in the last trading session of the week, as the Ukrainian Exchange will be shut on Thursday and Friday for technical work related to changes in the depositary system. Meanwhile, US markets received a boost from the announced nomination of Janet Yellen as the next US Federal Reserve chief; Yellen is viewed as having a philosophy similar to that of outgoing Fed chairman Benjamin Bernanke. The UX index picked up 0.6% to close at 845 points. Motor Sich was the top gainer with a 1.3% rise and also led on volume, printing UAH 4.8mn in deals. Azovstal, DonbasEnergo, and UkrNafta added around 1% each, while none of the remaining six UX blue chips moved by more than half a percent in either direction. In London, Ferrexpo slipped out of its recent trading range with a 2.4% decline, closing below GBp 170 for the first time since late August.

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Eavex Ukraine Market Monitor: October 10