Comments and pre-market: Eavex Ukraine Market Monitor: May 6

Monday (May 5) was a grim day for Kyiv-listed Ukrainian stocks, which sold off heavily following the May Day weekend violence that saw the army move into areas of the Donbass to take on pro-Russian paramilitaries as well as new trouble in the Russian-speaking port city of Odessa. The UX index lost 3.9% to close at 1060 points. Worst-hit were blue chips located near the conflict zone, Alchevsk Steel and DonbasEnergo, which plummeted by 5.4% and 6.9% respectively; the former closed below 3 kopecks for the first time ever. UkrNafta was also a big loser at -7.0%, on concerns that a further loss of Ukrainian territory could reduce its resource base. CentrEnergo led on volume with turnover of UAH 3.0mn and saw a more moderate decline of 1.9%, while Motor Sich fell 3.5% to UAH 1696. There was no trading of London-listed issues due to a local holiday in the UK, while in Warsaw, top liquid issue Kernel was also affected by the turmoil, sliding 4.3% to PLN 27.20.

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Eavex Ukraine Market Monitor: May 6