Ukraine’s main
equity index rallied sharply on Monday (Oct 13) after news that Russian troops
have been ordered to pull back from the Ukrainian border ahead of this Friday’s
meeting between Presidents Poroshenko and Putin in Italy. The counterparts last
met in late August for talks that led to the ceasefire accord between Kyiv and
the pro-Russian separatists in eastern provinces of Donetsk and Lugansk. The UX
index surged by 5.0% to close at 1124 points. However, the rise looks somewhat
deceptive, as the heaviest gains were posted by the UX basket’s low-liquidity
names. Among actively-traded issues, UkrNafta (UNAF) added 2.4% to UAH 367,
Motor Sich appreciated by 1.6%, and Azovstal (AZST) advanced by 11.3% on
turnover of UAH 1.5mn. Low-liquidity issues Yenakievo Steel (ENMZ) and Alchevsk
Steel (ALMK) jumped by 12.9% and 6.5% respectively. In London trading, Ukrainian
names were also notably higher, with MHP (MHPC) and Ferrexpo (FXPO) advancing by
2.6% and 3.1% respectively. In Warsaw, Astarta (AST) picked up 3.1% and Agroton
(AGT) gained 4.3% to PLN 1.93.
full reportEavex Capital welcomes any questions or comments you may have regarding our
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Please contact our office in Kyiv at 380-44-590-5454, or
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