Local Ukrainian equities were mixed on Monday (Aug 11), with the
market not reacting to a strong rebound in the main European indices after
almost two weeks of decline on apparent bargain-hunting. The UX index edged down
by 0.4% to close at 1261 points; however, USD-denominated valuations have also
been hit hard by the slumping hryvnia, which is down 13% against the dollar this
month on worries about the situation surrounding the Donbass war. Motor Sich
continued to slide, dropping another 4.2% to UAH 2315, as investors fret that
defense sector sanctions which could be imposed by Parliament this week will
result in a cutoff of the company’s sales to Russia. Volume leader CentrEnergo
added 1.1% on turnover of UAH 2.5mn and Alchevsk Steel moved up by the same
increment. In London, Ferrexpo rallied belatedly on last week’s release of
strong 1H financials, picking up 5.9% to near GBp 136.
full report
