Locally-listed
Ukrainian stocks suffered another sharp fall on Friday (Jan 24) amid a dangerous
escalation in political tension in the country, as the opposition, radical
anti-government demonstrators, and the regime of President Yanukovich continued
their three-way standoff with few signs of room for compromise. In a role
reversal of sorts, the main global indices sold off heavily on concerns about
economic and political instability in a number of important emerging market
nations, first of all Argentina, but also including Ukraine. The UX index shed
2.0% to end at 849 points, bringing its weekly drop to 7.8%. Top liquid issues
Motor Sich and CentrEnergo were the most prominent decliners, sliding 3.3% and
2.7% respectively, with the latter closing at UAH 4.34; low-liquidity blue chip
Yenakievo Steel also took a hit of around 3%. In London, Ferrexpo was not immune
to the unrest in Kyiv, slipping 2.5% to a 6-month low near GBp 162.
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