Local Ukrainian blue chips resumed their rise on Wednesday (Jul 30) following Tuesday’s minor 1-day correction. Meanwhile, an unexpectedly strong 4.0% figure for annualized US GDP growth in the second quarter sent stocks on Wall Street lower, with investors concerned that the surprisingly fast growth might prompt the Federal Reserve to scale back its remaining monetary stimulus ahead of schedule at this week’s meeting. European shares were also down as the market digested the possible effects of new trade sanctions against Moscow. The UX index picked up 0.8%, closing at another new two-year UAH-denominated high of 1348 points. UkrNafta was the growth leader, rising 1.9% to near UAH 333, while Motor Sich moved up in line with the overall index and volume leader CentrEnergo added 1.0% on turnover of UAH 3.7mn. Outside the UX basket, Stakhanov Wagon, which is located the area of some of the heaviest separatist control in southern Lugansk oblast, gained 2% to UAH 1.07, and sporadically-traded TurboAtom registered a deal at UAH 5, an 11% rise from its previously listed price. In London, MHP edged up by 1.2%, while Ferrexpo slipped 2.0% to near GBp 137.
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