Local Ukrainian stocks were mixed on Tuesday (Dec 17), with news of
President Yanukovich’s signature of a bailout deal in Moscow filtering in too
late to influence the day’s trading; we expect a positive reaction on the local
market in today’s session. Developed market indices were largely flat as
investors waited to see the outcome of today’s Federal Reserve meeting to decide
on a direction. The UX index ended unchanged at 893 points. Azovstal was the
biggest mover, dropping 2.6% to 69.60 kopecks, while CentrEnergo and Yenakievo
Steel rose by 0.8% and 1.2% respectively. Motor Sich edged down 0.5% on volume
of UAH 2.1mn. Outside the UX basket, Krukiv Wagon picked up 2.3% and
DonetskStal-controlled Yasynivsky Coke lost 4.7% to end just above 50
kopecks. In London trading Ferrexpo gained 4.0%
yesterday.
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