Kyiv-listed
equities were lower on Friday (Aug 22) as Ukraine’s military failed to recapture
the separatist-controlled city of Donetsk despite a final push to do so before
the country’s long Independence Day weekend. Expectations were also low for the
weekend visit by German Chancellor Merkel to Kyiv and for today’s meeting
between Presidents Poroshenko and Putin in Belarus, as the Ukrainian and Russian
sides appear to be as far apart as ever on finding a resolution to the
4-month-old war, with hard-liners dominating the conversation in both Kyiv and
Moscow. Externally, the S&P 500 inched back from its all-time high, although
investor confidence in continued Federal Reserve cheap-money support for the US
economy remains strong. The UX index edged down 0.8% to close at 1241 points.
Volume leader Motor Sich was the main drag on the benchmark, sliding 3.1% on
turnover of UAH 2.6mn, and CentrEnergo and Raiffeisen Aval lost 1.2% each, with
the latter ending at 14.02 kopecks. Outside the UX basket, Yasynivsky Coke
rebounded by 12%, erasing much of its big loss earlier in the week after
fighting shut off power to its main plant.
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