Local Ukrainian
stocks were lower on Wednesday (Jul 16), once again trading against the pattern
of European shares, which rose sharply on strong GDP growth data from China;
however, the main indices in Europe are likely to sell off today following the
announcement of tougher-than-expected EU sanctions against Russia for backing
the separatist insurgency in Eastern Ukraine. The UX index declined by 1.0% to
close at 1242 points. Trading volume in blue chips was minimal, signaling no
activity by large players on the market. Among particular UX index components,
CentrEnergo and UkrNafta were the biggest movers, with their quotes falling by
2.0% and 1.7% respectively. Heavyweight Motor Sich lost 1.1% to finish at
UAH 2485. In London trading, MHP rose by 1.3% and Ferrexpo inched up by 0.3%,
while Avangard was unchanged at USD 9.50. In Warsaw, cheese producer Milkiland
sold off by 4.7%.
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