Market Comment

Ukrainian equities were in demand on Monday, August 22. The WIG Ukraine Index of Warsaw-traded stocks improved 1.0%, led by its biggest component, sugar maker Astarta (AST PW,+1.0%). Sharing the rising tide were farming stocks KSG Agro (KSG PW, +20.9%), Agroton (AGT PW, +10.0%) and Milkiland (MLK PW, +8.4%). In London, iron ore miner and pellet maker Ferrexpo (FXPO LN) increased 1.6%. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks slid 0.8%, weighed down by oil producer Ukrnafta (UNAF UK, -1.7%). The Ukrainian Stock Exchange will be closed tomorrow, Aug. 24,  to celebrate Ukraine’s 25-year anniversary of independence. We wish all our clients a pleasant holiday.