Locally-listed stocks resumed their sharp fall on Wednesday (Apr 16)
after a 1-day pause, as a so-called “anti-terrorist operation” against
pro-Russian paramilitaries in Donetsk oblast appeared to result in
embarrassingly immediate Ukrainian army surrenders. Fortunately, only minimal
violence was reported as local Donbass crowds confronted armored personnel
carriers sent by the government in Kyiv. Meanwhile, Frankfurt’s DAX bounced back
strongly from its big Ukraine-related decline on Tuesday and the S&P 500
rallied for a third straight session to climb back within range of record-high
territory. The UX index fell 2.5% to close at 1086 points, led by DonbasEnergo,
which dropped 4.6% to UAH 41.35. Motor Sich, Alchevsk Steel, and Avdyivka Coke
each lost around 3.5%, while CentrEnergo was somewhat better at minus 1.8%. In
London, MHP continued to trend lower, slipping 1.6% to USD 12.30, while Ferrexpo
edged up by 1.5% on a round of afternoon buying. In Warsaw, Astarta was hit by
the release of its lower-than-expected FY13 earnings, slumping 4.6% to PLN
39.10.
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