Monday, 28 October 2013
Eavex Ukraine Market Monitor: Oct 28
Eavex Capital Kyiv-listed Ukrainian stocks corrected on Friday (Oct 25) after three
sessions of gains, while the S&P 500 set another record high and the DAX
hovered just below the 9,000 level. The UX index finished down 0.9%, closing at
883 points. The decline would have been larger if not for another sharp rally in
Raiffeisen Aval, which added 4.6% to get back above the 10-kopeck level for the
first time since mid-August. Other blue chips were down across the board, with
Motor Sich, DonbasEnergo, Alchevsk Steel, and Avdyivka Coke all dropping by
between 1.5% and 2%. Outside the UX basket, sporadically-traded truck maker
AvtoKraz gained 6.2%. Among foreign-listed names, the big story was Kernel,
which plunged by 14.7% to PLN 45.50 after releasing worse-than-expected
financial results; the closing price was the stock’s lowest since February 2010,
while the decline represented its largest one-day drop since February 2009. full report
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