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Analytics and Market news

Tuesday, 22 October 2013

Eavex Ukraine Market Monitor: October 22

Eavex Capital

Ukrainian stocks were lower across the board on Monday (Oct 21), ending their 4-session winning streak and giving back a chunk of last week’s gains amid generally flat external sentiments, as both the S&P 500 and the DAX sat unchanged near the all-time highs which they registered on Friday. With the markets increasingly confident that there will be no reduction in US monetary stimulus before January, many analysts now expect the major equity indices to rally through the end of the year. The UX index lost 1.2% to close at 854 points. Raiffeisen Aval and UkrSotsBank were both down more than 2%, with the latter ending at 18.10 kopecks, while Azovstal corrected by 1.5% and volume leader Motor Sich shed 1.0%. In London, Avangard continued to have the hot hand, jumping another 4.0% to reach USD 13; JKX Oil & Gas moved by the same increment in the opposite direction after reporting that flow at its new gas well is “near the low end” of expectations.

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