Kyiv-listed stocks finished mixed on Wednesday (Sept 24) as the government stepped up its administrative activity on the currency market to reverse the hryvnia’s recent sharp decline. President Poroshenko met with representatives of the largest business groups and the management of systemically important banks, calling on them to stop their currency speculation. The meeting had an immediate effect, with the hryvnia closing at 12.95 on the interbank against the dollar, down from its spike to much as to 15.00 a day earlier. The UX index ended unchanged at 1085 points. Among the most actively traded names, UkrNafta (UNAF) retreated by 1.1% while CentrEnergo (CEEN) inched up by 0.4%. In London, Ukrainian stocks were moderately higher, with MHP (MHPC) picking up 0.6% and Ferrexpo (FXPO) rising by 1.9% to near GBp 128. In Warsaw, quotes for Astarta (AST) grew by 1.3% on news that the sugar making season in Ukraine is going well, with 2.1mn tonnes of sugar beet already having been processed nationwide.
Fixed Income
Ukrainian sovereigns improved on Wednesday with Ukraine-23s moving up by 2.4p.p. to 83.9/85.4 (10.4%/10.1%). Meanwhile, corporate names finished in the red. UkrlandFarming-18s dropped by 2.2p.p. to 71.1/73.3 (23.5%/22.3%) and Avangardco declined by 1.5p.p. closing at 84.0/89.0 (47.0%/32.3%).
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