Ukrainian equities were hammered across the board on Thursday (Aug 28) as a wide media coverage of new wave of Russian aggression against Ukraine triggered selloff on the UX stock exchange. The UX index plunged by 6.2% to 1174 points. The steepest losses were seen in the steel sector with quotes for Azovstal (AZST UK) slumping by 12.9% to UAH 0.77 per share. Heavyweight Motor Sich (MSICH UK) and CentrEnergo (CEEN UK) dropped by 4.3% and 4.1% respectively. UX Futures contracts with expiration in September lost 3.9% to close at 1217 points. The NBU official UAH/USD rate was set at 13.43 yesterday. London listed Ferrexpo (FXPO LN) fell by 4.7% to GBp 130.0 and MHP (MHPC LI) declined by 2.5% to USD 11.7 despite releasing quite upbeat financial results for 2Q14.
Fixed Income
Ukrainian sovereigns were down across the board on Thursday in light of exacerbated situation in Donbass war zone. Ukraine-23s declined by 1.6p.p. to 85.8/87.8 (10.0%/9.6%) and Ukraine-17s dropped by 1.9p.p. closing at 88.6/90.6 (11.6%/10.8%). Corporate names also closed in the red. UkrlandFarming-18s decreased by 2.2.p.p. to 78.1/79.0 (19.7%/19.3%) and Metinvest-18s went down by 1.4p.p. finishing at 65.6/68.0 (26.1%/24.5%).
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