Local Ukrainian stocks failed to take part in a global technical
rebound on Monday (Mar 17) after last week’s selloff on concerns about the
effect on the world economy of sanctions against Russia, as well as the
possibility of a further escalation of the situation in Eastern Ukraine. The
main indices in the US and Europe all added at least 1% to start the week, but
the UX index fell by 0.9%, slipping below the 1,000 mark to end at 994 points.
The big losers were low-liquidity names UkrSotsBank and Yenakievo Steel, which
declined by 6.8% and 4.6% respectively, while more actively traded Raiffeisen
Aval dropped 2.2% to 14.50 kopecks. DonbasEnergo led on volume with UAH 2.1mn in
deals and edged down by half a percent, while national flagship oil company
UkrNafta finished higher with a 1.0% gain. In London, Ferrexpo and MHP were
lifted by the global bounce, picking up 2.4% and 3.0% respectively. In Warsaw
trading, Astarta rebounded by 10% to PLN 40.8 per share.
full report
