Ukraine’s locally-listed blue chips were mostly lower on Tuesday (Aug
26) despite the positive development of a bilateral meeting in Minsk between
Presidents Poroshenko and Putin to discuss ways of de-escalating the military
conflict in the Donbass region. The main European indices rallied solidly, while
in the US, the S&P 500 edged up marginally by enough to put it above the
2000 level for the first time in its history. The UX index lost 1.1% to close at
1227 points. The biggest drag on the benchmark was Motor Sich, which continued
its pattern of sharp swings lasting between 5 and 10 sessions; the stock is back
on the downslope, and yesterday lost 4.0% to UAH 2253. Other losers were
DonbasEnergo and Yenakievo Steel, which coincidentally both closed at the same
price, UAH 37.53. UkrNafta ended in positive territory, adding 1.8%, allowing it
to keep pace with the devaluing hryvnia. Outside the UX basket, Poltavskiy GOK
was the most active second-tier issue, picking up 2.0% on reported turnover of
UAH 225,000. In London, Avangard sold off by 6.6% to end the day at USD 8.40.
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