Kyiv-listed
stocks posted solid gains for the second time in the last 3 sessions on
Wednesday (Jul 9), while the main European indices rebounded from two days of
losses with marginal rises. In New York, the S&P 500 also moved moderately
higher despite the release of Federal Reserve meeting minutes detailing the
central bank’s concerns about investor “complacency” and possible excessive
risk-taking in light of the Fed’s long period of backstopping the US economy. As
in Ukraine, volatility and liquidity on US equity markets has fallen sharply
over the last six months. The UX index added 1.3% to end at 1226 points; taking
into account the 40% hryvnia devaluation, the benchmark’s performance is roughly
flat year-to-date. CentrEnergo was the top gainer, rising 1.9% to UAH 7.51, and
Motor Sich and Raiffeisen Aval were both up by 1.5%. Alchevsk Steel, located in
the heart of the Donbass conflict zone in southern Lugansk oblast,
underperformed the market with a 0.5% drop to 3.68 kopecks. In London, top agro
names MHP and Avangard moved in opposite directions, with the former adding 1.6%
to USD 15.30 while the latter sold off by 4.0%.
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