EAVEX Weekly

February 23, 2016

Locally-listed equities started off the new week in the red on Monday (Feb 22), as fighting in eastern Ukraine has picked up notably in recent days. The resumption of hostilities across the front line to levels not seen since last summer can be seen as a reflection of Russia’s desire to exploit Ukraine’s current domestic political fragility. The UX index declined by 1.1% to close at 626 points. In the steel sector, Azovstal (AZST) lost 4.8% to 28.10 kopecks and Alchevsk Steel (ALMK) shed 3.2% to 1.21 kopecks.