Market Comment
Friday, July 8th, 2011: the Ukrainian stock market showed mixed dynamics: the UX index dropped 0.36% to 2339.8 points, PFTS index gained 0.8% to close at 911 points. The biggest declines were recorded among shares of Enakievo metallurgical plant [ENMZ -1.82%], Zakhidenergo [ZAEN -1.58%] and Ukrsotsbank [USCB -1.01%].
The world’s major equity markets fell in response to an unexpected increase in the US unemployment rate to 9.2% - the highest level since the beginning of the year.
Trader’s perspective
Negative data on the U.S. labor market released on Friday led to declines on most equity markets – the Ukrainian UX index dropped 0.36% and closed at 2339.84 points. For today, the expectations of the market are negative, but we do not expect sharp declines in share prices of major Ukrainian companies, since the UX index practically did not move upward, remaining at the yearly lows, while the world’s major equity indices have posted gains over the previous 2 weeks.
News Headlines
- Metinvest acquires Zaporizhstal.
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