Comments and pre-market: Eavex Ukraine Market Monitor: Nov 1

Analytics and Market news

Friday, 1 November 2013

Eavex Ukraine Market Monitor: Nov 1

Eavex Capital

Local Ukrainian stocks rallied in the afternoon on Thursday (Oct 31), with most names regaining the territory they lost in Wednesday’s session. Externally, global investors were somewhat dismayed by the US Federal Reserve’s apparent indifference to the recent US federal government shutdown; the Fed simply announced that its monetary stimulus will continue unchanged, without placing any emphasis on the effects of the shutdown. Investors had been hoping for signs that the shutdown might lead the Fed to extend its bond-buying all the way to June 2014. In Kyiv, the UX index closed higher by 0.8% at 867 points. Volume leader Motor Sich added 1.9% on turnover of UAH 2.5mn and UkrNafta picked up 2.8% to UAH 109. In London, Ferrexpo moved down by 3.8%, while in Warsaw, Astarta continued to cool off, sliding another 3.4% to PLN 63.
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