Locally-listed Ukrainian stocks edged higher on Tuesday (Feb 2)
despite heavy selloffs on the main US and European bourses related to the latest
slide in oil prices. Oil markets had been buoyed last week by hopes of a deal
between Russia and OPEC on reducing output, but analysts now say such an
arrangement is unlikely, and WTI oil has once again fallen to near the USD 30
level. On Wall Street, global investment banking names led the decline with
losses in the range of 5%. The UX index ticked up 3 points, or half a percent,
to finish at 642 points. UkrNafta and CentrEnergo rose by 1.4% and 0.2%
respectively on combined turnover of UAH 350,000, with the former ending at UAH
152.50, while Motor Sich slipped 0.4% to UAH 1760. Alchevsk Steel, which carries
a low weight in the UX basket, added 4.8% on light volume. In London, MHP edged
down 1.1% to USD 7.57 while JKX Oil&Gas was unchanged at GBP 25.50.
Sporadically-traded Regal Petroleum jumped 19% from its previously-listed price
to GBp 3.15.full reportEavex Capital welcomes any questions or comments you may have regarding our
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