Ukrainian
equities finished broadly lower on Tuesday (Sept 1), as the first reading of
decentralization amendments to the Ukrainian constitution drew aggressive
rhetoric from nationalist parties. In particular, the Radical Party (22 MPs)
quit the ruling coalition and declared itself in opposition to the government.
The UX index fell 0.8% to end at 972 points. Motor Sich (MISCH) edged down 0.5%
to UAH 2611 and Raiffeisen Aval (BAVL) shed 1.9% to 9 kopecks on the nose. In
second-tier issues, UkrTelecom (UTLM) slid 6.7% to 14 kopecks. On the interbank
currency market, the hryvnia gained 30 kopecks to close at bid/ask of
21.75/21.90 UAH/USD. In London, Ferrexpo (FXPO) lost 4.5% to GBp 59.00 and MHP
(MHPC) retreated by 2.4%. Warsaw-listed Kernel (KER) declined by 2.5% to PLN
40.70 and Milkiland (MLK) closed down 2.1% at PLN 0.95 after the Russia-focused
company reported that its overall revenue plummeted by half in 1H15. The
across-the-board slide in European bourses, with Frankfurt’s DAX falling 2.4%,
also contributed to the selloff of Ukrainian stocks in London and
Warsaw.
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