Comments and pre-market: Eavex Ukraine Market Monitor: Jul 22

Analytics and Market news

Tuesday, 22 July 2014

Eavex Ukraine Market Monitor: Jul 22

Eavex Capital

Local Ukrainian stocks rallied notably on Monday (Jul 21) despite a pullback in European equities, thanks to a statement from the IMF’s mission head in Kyiv that he will recommend the disbursement of a fresh USD 1.4bn loan tranche to Ukraine to the IMF board in Washington. The UX index jumped by 2.8% to close at 1262 points. Volumes were low except in the top heavyweight issues Motor Sich and CentrEnergo, which added 2.5% and 1.9% respectively on combined turnover of UAH 4.5mn. Lower-liquidity issue Azovstal posted a gain of 5.4% to 84 kopecks while UkrNafta rose by a more modest 1.1%. Outside the UX basket, DniproEnergo was also a winner, gaining 3.2% to UAH 453. The advances in Kyiv did not extend to Warsaw-listed names, with Kernel and Milkiland falling by 1.5% and 5.6% respectively, with the former slipping back below the PLN 30 level.

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