Ukraine’s stock
market continued to be under pressure on Wednesday (Jan 22), as images broadcast
around the world showed Hrushevsky Street in central Kyiv increasingly
resembling a war zone; meanwhile, talks between opposition leaders and President
Yanukovich appeared to lead to a hardening of positions on both sides rather
than any form of compromise. The UX index lost 2.6% to close at a 3-month low of
863 points. All 10 blue chips finished in the red, with the biggest drop
registered in Avdyivka Coke (AVDK) at -4.9%. Top liquid issue Motor Sich (MSICH)
slumped 3.5%, giving back another chunk of its 6-week previous run-up, and
CentrEnergo (CEEN) was down by the same increment to UAH 4.44. UkrNafta (UNAF)
was the least-badly-performing blue chip, dropping by 0.6%. Second-tier issue
Krukiv Wagon (KVBZ) was the day’s only notable gainer, added 2.1%. In Warsaw,
Ukrainian names were also hit, with Astarta (AST PW) and Agroton (AGT PW)
falling by 3.0% and 9.7% respectively; London-traded Ferrexpo posted a
relatively moderate decline of 1.6% to GBp 168.
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