Comments and pre-market: Eavex Ukraine Market Monitor: Aug 4

Local Ukrainian stocks were mixed on Friday (Aug 1), although the top liquid names ended notably lower. In Europe, the DAX and CAC got hammered for a second straight session on concrens about the effect of the new Russia sanctions; the DAX is now down 8% from its local maximum and closing in on bear market territory. The UX index slipped 0.3% to close at 1318 points. Co-volume leaders Motor Sich and UkrNafta fell 1.6% and 3.1% respectively on combined turnover of UAH 6.9mn, with the latter ending near UAH 311. On the upside, DonbasEnergo provided the main support to the index, gaining 2.9%, and Raiffeisen Aval edged higher by half a percent. It was a bad day for Ukrainian names listed in London, with JKX Oil&Gas continuing its nasty slide, dropping 6.1% to GBp 40.25 after Ukraine’s Parliament hiked the royalty on natural gas extraction; the issue had been above GBp 70 as recently as November. Avangard also sold off by 6% to USD 8.50.

full report

Analytics and Market news

Eavex Ukraine Market Monitor: Aug 4