Local Ukrainian blue chips saw very little activity in Wednesday (Jun
25) trading, with no substantial price movement in any of the major liquid
names. Externally, US stocks were unaffected by a large downward revision in the
country’s 1st-quarter GDP, which declined at 2.9% annual rate. The drop is
largely viewed by economists as a function of severe winter weather across much
of the US during 1Q and thus not reflective of economic fundamentals, with a
rebound expected in the coming quarters. The UX index ticked down 0.1% percent
to close at 1233 points. Among UX basket components, only low-liquidity
UkrSotsBank moved by more than half a percent, adding 2.2% to 16.95 kopecks.
Azovstal and Raiffeisen Aval each edged lower by 0.5%, while volume leader Motor
Sich saw a marginal gain of 0.4% on turnover of UAH 2.5mn. Outside the UX
basket, the biggest story was in sporadically-traded Mariupol Heavy Machinery,
which jumped 30% from its previously listed price to near 15 kopecks. In Warsaw,
top names Kernel and Astarta sold off by 3.8% and 2.2% respectively, with the
latter ending at PLN 44, while KSG Agro remained untraded at a listed price of
PLN 4.53 following the release of its FY13 financials this
week.
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