Ukrainian
equities sold off on Wednesday (Aug 21) as pressure mounted on emerging markets
due to concerns that the US Federal Reserve is set to start scaling back its
monetary stimulus policy as soon as next month. Still, notes from the most
recent Fed meeting seemed to suggest that investors’ fears may be exaggerated,
and that expectations of an immediate Fed pullback may be a bit premature. The
UX index traded in the red all day, ending down 1.0% at 861 points. Alchevsk
Steel and Motor Sich each lost 1.8%, with the latter closing at a fresh
year-to-date low of UAH 1756. CentrEnergo fell 1.3%, while Raiffeisen Aval edged
up by 0.5%. DonbasEnergo shed 1.7% to UAH 24.50 despite being privatized at an
equivalent price of UAH 50 per share.
In Warsaw, Kernel and Astarta rallied by
2.6% and 2.0% respectively, while in London, MHP traded below USD 16 for the
first time in more than 6 months, dropping 2.3% after the company was hit by
news that Kazakhstan has suspended imports of its poultry
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