Kyiv-listed Ukrainian stocks rose again on Wednesday (Feb 26), but the local benchmark failed to keep pace with the sharp slide in the hryvnia, which plummeted by nearly 5% as panic buying of hard currency began to dominate the country’s forex market. The UX index gained 2.6% to close at 1120 points; however, the UX’s year-to-date rise of 23% is exactly in line with the slide in the hryvnia over the same period, implying that the dollar-denominated valuation of the benchmark is flat. Azovstal was yesterday’s top gainer, adding 6.5% to 82 kopecks, and financial issues Raiffeisen Aval and UkrSotsBank both picked up around 5%. CentrEnergo rose 4.0% and UkrNafta moved higher by 3.2% to UAH 191. Volume leader Motor Sich was little-changed on turnover of UAH 2.6mn. Outside the UX basket, there was elevated activity in Krukiv Wagon, which fell 2.5% to UAH 23.40. In Warsaw, Kernel and Ovostar both sold off heavily, losing 5.5% and 8.0% respectively, while Agroton rose by 4.4% to PLN 4.70.
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