Ukraine’s equity market has been in a sideways trend for the past two
weeks, with the UX index fluctuating in a corridor of 1150-1200 points, as it
has become clear that the overall economic situation in the country is now fully
dependent on a resolution of the war in the eastern Donbass region. The UX index
finished 1.4% lower on Friday (Sept 5), closing at 1161 points. DonbasEnergo
(DOEN UK) fell 4.3% to UAH 31.30 per share and Mariupol-based steelmaker
Azovstal (AZST UK) lost 3.3%. Motor Sich (MSICH UK) saw a smaller decline of
0.8% after CEO Vyacheslav Boguslaev claimed that the company’s export of
helicopter engines to Russia is continuing despite a sector ban, since the
engines are being installed on helicopters ordered by buyers in third countries.
UkrNafta (UNAF UK) was the only blue chip to end in the black, rising by 1.1%
after a drop of 3.8% the previous day. In London trading, iron ore producer
Ferrexpo (FXPO LN) decreased by 1.0% to near GBp 132, while in Warsaw, Kernel
(KER PW) rebounded by 3.0% off its latest low to end just above PLN 26.
full reportEavex Capital welcomes any questions or comments you may have regarding our
research products.
Please contact our office in Kyiv at 380-44-590-5454, or
by email:
Alexander Klymchuk, Head of Sales,
[email protected]
Dmitry
Churin, Head of Research, [email protected]
