The Ukrainian stock market rose for a second straight trading session on Tuesday (Sept 23). Among positive impulses we can mention some progress in ensuring natural gas deliveries in the country for the upcoming winter season. The state gas monopoly Naftogaz said there were preliminary discussions with EU gas operators about transferring the EU’s ownership right point to the Ukraine-Russia border from the Ukraine-EU border; in theory, such changes in contracts with Gazprom would allow Ukraine to buy gas from EU operators without taking into account the reverse pipeline capacity limitations. The UX index added 0.7% to close at 1085 points. Avdyivka Coke (AVDK) closed at UAH 2.40, demonstrating that its “rise” by 28% a day earlier to UAH 2.84 was either an anomalous last trade or a technical glitch. In utility sector stocks, DonbasEnergo (DOEN) advanced by 3.9% and CentrEnergo (CEEN) added 2.2%. In London trading, MHP (MHPC) fell 1.8% to USD 12.40 and JKX Oil&Gas (JKX) was up 0.6% after its 7% loss on Monday. Top liquid issue Ferrexpo (FXPO) lost 3.4% amid downward movement in iron ore prices. Warsaw-listed names were also broadly lower, with Astarta (AST) and KSG Agro (KSG) sliding by 2.7% and 4.5% respectively.
Fixed Income
Ukrainian sovereigns were lower on Tuesday with Ukraine-23s declining by 1.7p.p. to 81.7/82.7 (10.8%/10.6%). The corporate universe closed mixed. Following the strange release of Mriya (see the news below), the group’s 16s papers moved down by 5.0p.p. to 25.0/30.0 while DTEK-15s improved by 0.9p.p. closing at 74.0/75.9 (70.5%/64.3%).
Stocks in the News
Ukraine’s Poultry Export Quota to EU Could be Increased to 90,000 tonnes
Ovostar Issues Optimistic 25% YoY Top Line Growth Forecast
FIXED INCOME
Mriya Appoints New CEO, Establishes Financial “Dataroom”
full report
Eavex Capital welcomes any questions or comments you may have
regarding our research products.
Please contact our office in Kyiv at 380-44-590-5454, or by email:
Alexander Klymchuk, Head of Sales, [email protected]
Dmitry Churin, Head of Research, [email protected]
