Selling continued on the Ukrainian Exchange on Wednesday (Aug 28),
although to a lesser degree than in the previous session, as plans for a US-led
military intervention in the Syrian conflict appeared to move off the fast
track. The main Paris and London bourses saw only minor losses, although
Germany’s DAX was down another 1%. The UX index slipped 0.4% to close at 845
points. DonbasEnergo continued to give back the gains seen in the run-up to its
privatization, sliding 2.7% to UAH 22.65, while Motor Sich dropped 0.7% to UAH
1700 on the nose and Alchevsk Steel and UkrNafta both shed 0.8%. Outside the UX
basket, sporadically-traded Poltavskiy GOK plunged 17.2% on a wide buy-sell
spread. In London, Ferrexpo, which owns some 98% of Poltavskiy, sold off by
4.3%, and there was no reprieve for MHP, which lost another 1.8% to USD 15.10
ahead of today’s 1H financials release.
full report
