Owing to a growing number of “ratings oriented” deals closer to the end of the month, trading volumes were relatively high, while core activity remained low, keeping the PFTS Index virtually unchanged (-0.16%).
The engineering sector was popular with investors mainly because it offered a good opportunity to sell on increased market liquidity. Stakhaniv Railcar Plant
(-13.6%) was actively withdrawn from portfolios in advance of the company’s upcoming additional share issue. UkrAVTO (-1.1%) depreciated as the WTO effect continues to be priced in by the market. Centrenergo (-1%) signalled the continued sell-off in the electricity sector, and the steel sector showed the first signs of stabilizing as Avdiyivsky Coke (+0.1%) and Enakievo Steel (+0.3%) grew marginally. The banking sector’s most liquid names strengthened: Ukrsotsbank (+0.4%) and Bank Aval (+1.2%). We expect the market to remain stable for the remainder of the week.

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