Ukrainian stocks continue decline under Russian trade assault

2013/8/20 11:17:01

The WIG Ukraine Index of Warsaw-traded stocks fell 2.2%, and the UX was down 0.4%

 


KYIV, Aug 20, 2013 (UBO) – The Russian government attack on normal trade flows continues to drag down the value of Ukrainian stocks. The Russian state official assigned to handle the situation, Sergey Glazyev, a top advisor to President Vladimir Putin was reported by the Russian state news service as saying in part, “…we’re preparing for a stricter customs administration if Ukraine suddenly takes this suicidal step in signing the Association Agreement with the EU.” Public opinion polls have consistently revealed that a majority of Ukrainian citizens support this “suicidal step.”

 

Concorde Capital provides analysis of Monday’s trading in its daily market comment:

 

“Investors continued dumping their Ukrainian equities in trading on Monday, August 19 based on rising interest rate jitters in Europe and the Russian trade conflict. The WIG Ukraine Index of Warsaw-traded stocks fell 2.2%, with the declines led by car battery maker WESTA (WES PW -9.2%) and farmer Agroton (AGT PW -3.7%), which has plummeted 15.8% in four straight decreasing sessions. Another farmer that also has lost ground is Kernel (KER PW -2.9%), which has slid 8.4% in three straight negative sessions to tie its one-year low. In London, mining firms tracked dropping metal prices, causing shares of iron ore miner Ferrexpo (FXPO LN) to fall 4.0%. Poultry producer MHP (MHPC LI -1.1%) has lost 5.4% in three sessions. Among the few gainers was egg producer Avangard (AVGR LI +3.7%), which was the target of bargain-hunting after plunging 6.9% in the prior session. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks slid 0.4%, weighed down by Donbasenergo (DOEN UK -1.0%), which will have its majority stake auctioned today.”

 

For charts of last session top-3 map, last session performance and more, link below:

www.concorde.ua

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