Ukrainian stocks
sharply underperformed global markets on Monday (Apr 14), as the weekend’s armed
takeovers of government buildings in several large provincial towns in Donetsk
oblast by pro-Russian paramilitaries took its toll on the investment mood in
Kyiv and raised serious doubts about the Ukrainian government’s ability to
exercise even a minimum of control over the situation. The UX index lost 3.8% to
close at 1119 points, led by Donetsk-based Metinvest names Avdyivka Coke and
Azovstal, which slumped by 10.1% and 7.2% respectively. DonbasEnergo and
Alchevsk Steel, which are located in the same geographic region, lost about 6.5%
each, with the former ending at UAH 42.90. Top liquid issues Motor Sich and
UkrNafta shed 2.2% and 2.9% respectively on combined turnover of UAH 9.1mn. In
London, Ferrexpo moved down by 1.9%, while Kernel sold off by 5.1% in Warsaw to
end at PLN 29.70.
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