Comments and pre-market: Eavex Ukraine Market Monitor: Feb 24

Analytics and Market news

Monday, 24 February 2014

Eavex Ukraine Market Monitor: Feb 24

Eavex Capital

Maybe someone in Ukraine’s stock market had a crystal ball on Thursday afternoon (Feb 20), as the local market began to rise sharply well before it became apparent that President Yanukovich would sign a power-sharing deal with the opposition on Friday, and that his regime would then completely crumble over the weekend. During the two days of trading, the UX index added 7.1% to close at 933 points on Friday (Feb 21). Among particular stocks, actively traded Raiffeisen Bank Aval (BAVL UK) and DonbasEnergo (DOEN UK) both gained close to 7% on Friday. The performance of London-traded Ukrainain agro company MHP (MHPC LI) was even more impressive, with the stock jumping 9.8% to USD 14.50. In Warsaw Astarta (AST PW) rebounded from previous sharp losses by 9.1% to PLN 56.40, while Kernel (KER PW) advanced by 6.9%.
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