EquityUkrainian stocks snapped their seven-session losing streak on Thursday (Dec 5) in what could only be described as a technical rebound given the ongoing domestic political standoff. External sentiments were also depressed by a strong 3Q GDP growth figure from the US that left investors worried about a reduction in Federal Reserve bond purchases at the Fed meeting later this month. Although most observers still view the “taper” as more likely to start in March than in December, the major global indices were lower. The UX index, meanwhile, added 1.6% to close at 896 points. Top liquid names Motor Sich, Raiffeisen Aval, and DonbasEnergo all rose by close to 2%, while CentrEnergo gained 0.8% to UAH 4.97. In London, agro issues MHP and Avangard were both hit by country-risk-related selling, losing nearly 5% each to finish at USD 15.60 and USD 11.30, respectively.
Fixed IncomeBenchmark Ukrainian sovereigns were little-changed on Thursday. Ukraine-23s inched down by 0.1p.p. to 82.0/83.3 (10.6%/10.3%) while Ukraine-17s improved by 0.2p.p. to 84.7/86.4 (11.9%/11.3%). Major corporate issues were mostly higher. MHP-20s and Metinvest-18s increased by 0.5p.p. each, ending at 81.2/82.9 (12.7%/12.2%) and 86.6/88.0 (13.1%/12.7%), respectively.
STOCKS IN THE NEWS- Ukraine’s Steel Output Up by 0.6% YoY in 11M13- EBRD Raises MHP’s Credit Line to USD 100mn
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