Ukrainian blue chips finished a week of underperformance with some marginal gains on Friday (Apr 12), although two of the top three liquid issues ended lower. The UX index inched up 0.2% percent to close at 821 points. Beaten-down UkrNafta (UNAF) picked up 1.3%, while Avdyivka Coke (AVDK), Azovstal (AZST), Alchevsk Steel (ALMK), and CentrEnergo (CEEN) all posted rises in the neighborhood of half a percent. The week’s top performer, Raiffeisen Aval (BAVL), gave back 1.0% on profit-booking, and volume leader Motor Sich (MSICH) slipped 0.6% to UAH 1988 on turnover of UAH 7.1mn. Outside the UX basket, Pivnichny GOK (SGOK) continued to demonstrate volatility ahead of next week’s shareholder meeting with a 8.6% slide, and ZakhidEnergo (ZAEN) fell 7.4% to UAH 75.
In Warsaw, Agroton (AGT PW) suffered the largest 1-day drop of any major Ukrainian equity issue since the 2009 financial crisis, after Standard & Poors used unusually blunt language in cutting the company’s credit rating to triple-C; the stock plunged by 56% to PLN 3.60.
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