Ukraine’s local equity benchmark was higher by almost 5% intraday on
Wednesday (Sept 3) after media reports spread that President Poroshenko had
reached an agreement with his Russian counterpart Vladimir Putin on a ceasefire
in Ukraine’s Donbass region. However, later in day it became clear that the
reports were premature, and the UX index gave back most of the gain, although it
still managed to add 1.0% to close at 1179 points. Raiffeisen Bank Aval (BAVL
UK) was the top blue chip performer, advancing by 3.1%. Alchevsk Steel (ALMK UK)
and Yenakievo Steel (ENMZ UK) rose by 1.6% and 2.3% respectively while
DonbasEnergo (DOEN UK) lost 3.3% to end at UAH 33 per share. Top liquid name
Motor Sich (MSICH UK) increased by 1.2% to UAH 2300 on turnover of UAH 3.7mn. In
London, Ukrainian stocks were impressively higher on the ceasefire report, with
MHP (MHPC LI) jumping 7.6% and Ferrexpo (FXPO LN) picking up 3.8%.
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