Tuesday, 1 April 2014
Eavex Ukraine Market Monitor: Apr 1
Eavex Capital Ukrainian stocks rebounded on Monday (Mar 31), ending at their
session highs and snapping a 4-session losing streak, led by strong speculative
buying in top financial issue Raiffeisen Aval. In the US, equity markets were
boosted by dovish comments from Federal Reserve chief Janet Yellen about the
weakness of the US labor market, implying that the central bank will continue
its monetary stimulus and near-zero interest rates for the foreseeable future.
The UX index rose by 2.7% to close at 1020 points. Raiffeisen Aval, a majority
stake in which could soon be sold off by Raiffeisen International, jumped by
8.1% to 16.20 kopecks, and UkrSotsBank, Alchevsk Steel, and Avdyivka Coke all
added in the range of 4%. CentrEnergo led on volume with UAH 3.7mn in deals and
moved up 1.6%, while Motor Sich continued struggle, substantially
underperforming the overall market with its rise of just 0.2%. Outside the UX
basket, there was some activity in long-suffering Stakhanov Wagon, which added
6.2% to UAH 1.20. In London, JkX Oil&Gas appreciated by 5.1% to GBp 61.50,
and Ferrexpo and MHP both edged up by 1.2%. full report
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