Local Ukrainian equities were lower on Thursday (Jul 3) despite a
bullish day on the main US and European bourses fueled by a strong surge in US
employment numbers during June. The US added nearly 300,000 jobs over the month,
pushing the country’s benchmark unemployment rate down to 6.1% and leading
economists to speculate that the Federal Reserve could end its
zero-interest-rate policy sooner than expected. The UX index declined by 0.7% to
close at 1212 points, led by Raiffeisen Aval and Alchevsk Steel, both of which
were down 1.1%. Volume leaders Motor Sich and CentrEnergo each fell in line with
the overall index. Electricity distributor KrymEnergo was the most active issue
outside the UX basket, jumping 13% on above-average turnover of UAH 700,000. In
London, Ferrexpo added a solid 4.3% to near GBp 139 on the coattails of the
global optimism associated with the US economy, and low-liquidity Avangard
picked up 5.3%. In Warsaw, sugar-refining major Astarta lost 2.5% to PLN
42.40.
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