Comments and pre-market: Eavex Ukraine Market Monitor: Dec 3

Kyiv-listed Ukrainian stocks mostly recovered from a sharp gap down at the opening on Monday (Dec 2) to finish mixed, as large demonstrations against President Yanukovych’s decision to refuse a free trade deal with the EU continued in the streets of the capital. The equity market’s performance was in sharp contrast to the situation with Ukrainian sovereign Eurobonds, which sold off sharply as the Ukraine political unrest topped international news reports. The UX index edged down 0.4% to close at 903 points. Top liquid issues Motor Sich and Raiffeisen Aval declined by 1.3% and 1.9% respectively, while UkrSotsBank added 2.3% after the conclusion of its special shareholder meeting and Azovstal picked up 0.9 percent to 70 kopecks on the nose. In London, Ferrexpo sold off by 3.8% on the perception of increased Ukraine risk, and Astarta dropped by 3.2% in Warsaw, ending at PLN 64.
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Eavex Ukraine Market Monitor: Dec 3