Kyiv-listed equities were substantially lower in line with the main
European bourses on Thursday (Jul 17) as investors reacted to the imposition of
new sanctions on the Russian economy over the war in Eastern Ukraine by the US
and European Union. Shocking news that filtered in during the late afternoon
that a Malaysian civilian airliner was shot down over Donetsk also had a
negative effect on markets. The UX index lost 1.5% to close at 1224 points as
local stocks continued to give back the gains which they had racked up last
week. The UX’s drop would have been much larger if not for a 5.6% rise in
UkrNafta after Energy Minister Yuriy Prodan demanded that the half-state-owned
oil company pay out a big dividend for the past 3 years as required by law.
Raiffeisen Aval was the leading decliner, falling 3.4% to 14.45 kopecks, and
heavyweights Motor Sich and CentrEnergo were down by 1.8% and 2.8% respectively.
In London, Ferrexpo slid 3.6% to near GBp 138, extending its losses late in the
session after news about the Malaysian plane came through. In Warsaw, Kernel was
less affected, edging down 0.7% to PLN 30.10.
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