Analytics and Market news

Locally-listed Ukrainian equities continued to fluctuate in a narrow range on Wednesday (Jul 15). Among the day’s headlines, Canada and Ukraine concluded negotiations on a free-trade pact, a deal that affects only a tiny slice of Ukraine’s commerce but should still be politically significant in both countries. Also, Finance Minister Natalia Jaresko met again with the country’s bondholders with time running short to reach a restructuring deal before a possible default. The UX index edged down 0.4% to close at 996 points. UkrNafta (UNAF) provided some support to the benchmark, rising 1.0% on information that shareholders affiliated with Igor Kolomoysky have given a preliminary green light to appoint BG Group Kazakhstan top manager Mark Rollins as the new CEO of UkrNafta. On the downside, Motor Sich (MSICH) declined by 0.7%, dipping back below UAH 2700 for the first time since early June. In the steel sector, Azovstal (AZST) and Yenakievo Steel (ENMZ) lost 0.7% and 3.5% respectively. London-listed Ferrexpo (FXPO) was down 0.4% to close at GBp 59.50 while JKX Oil&Gas (JKX) added 2.6% to GBp 19.50, continuing to respond positively to news that an elevated production tax imposed last year will be removed in October. In Warsaw, Astarta (AST) advanced by 3.4% to PLN 33.10.

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