Comments and pre-market: Eavex Ukraine Market Monitor: Mar 17

Locally-listed Ukrainian stocks ended mixed on Friday (Mar 14) in a volatile session that saw the main benchmark down by nearly 3% in the morning and up by 3% in the afternoon. The US index ended the day nearly flat at 1003 points, snapping a 3-day run of heavy declines on worries not only about the likely passage of Crimea’s secession referendum, but also over the aggressive confrontations between pro-Russian and pro-Ukrainian demonstrators taking place in the major eastern cities of Kharkiv and Donetsk. Among the top names, Raiffeisen Aval added 3.3%, while Motor Sich and Yenakievo Steel declined by 1.4% and 1.8% respectively. The main London-traded names were little-changed, with Ferrexpo inching up by 0.4% to GBp 139 and JKX Oil&Gas edging lower by 0.8%. In Warsaw, top Ukrainian agro issues Kernel and Astarta were both essentially flat after suffering heavy losses earlier in the week on political risk concerns.

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Eavex Ukraine Market Monitor: Mar 17