Comments and pre-market: Eavex Ukraine Market Monitor: Aug 5

Local Ukrainian stocks were little-changed on Monday (Aug 4) in a session with much less activity than what we have been seeing recently, with trading more in line with a typical quiet summer pattern. Externally, the DAX declined for a 5th straight session, while the S&P 500 saw a moderate rebound from its heavy losses late last week on concerns about how soon US interest rates might finally start to rise after almost 7 years near zero. The UX index inched down two tenths of a percent to close at 1316 points, with DonbasEnergo’s drop of 1.4% to UAH 40.75 the only notable change; Motor Sich and CentrEnergo both finished nearly flat on combined turnover of UAH 3.4mn. Outside the UX basket, Metinvest-controlled steelmaker MMK Illicha moved up 3.8% to 13.50 kopecks. In London, it was another brutal day for Ukrainian natural gas extractors JKX Oil&Gas and Regal Petroleum, which lost around 9% each to fresh respective all-time lows of GBp 36.50 and GBp 6.88, as the Ukrainian government looks set to take a much larger share of the companies’ profits in taxes.

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Eavex Ukraine Market Monitor: Aug 5