Ukraine’s equity market suffered its worst day since last autumn on Monday (Apr 1), as news of a major fire at the facilities of electricity generator CentrEnergo ahead of the company’s planned privatization later this year unsettled investors and sparked a wave of selling. The UX index plunged 6.7%, with most of the damage done in morning trading, to close at 843 points. CentrEnergo (CEEN), the second-most actively traded domestic issue, got crushed, plummeting by 17.4% to UAH 4.50, while volume leader Motor Sich (MSICH) sold off by 4.1% on turnover of UAH 9.5mn. None of the top liquid names emerged unscathed, with Raiffeisen Aval (BAVL) and UkrNafta (UNAF) both down more than 5%, Alchevsk Steel (ALMK) losing 4.4% to 4.56 kopecks, and Avdyivka Coke (AVDK) and Azovstal (AZST) each dropping 3.5%. Second-tier electricity stocks were particularly hard-hit, with KyivEnergo (KIEN) and DniproEnergo (DNEN) shedding 16.7% and 6.5% respectively.
In London, it was a good day for MHP (MHPC LI), which added 4.4%, while Ferrexpo (FXPO LN) continued to behave quietly, sitting unchanged at GBp 173. In Warsaw, Kernel (KER PW) picked up 1.5% to PLN 59.10.
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