Kyiv-listed stocks pared early gains and finished mostly in the red
on Thursday (Nov 6) as the latest wave of hryvnia devaluation discouraged market
players from purchasing UAH-denominated assets. The dollar exchange rate against
the hryvnia surged by another 4% to 14.60 UAH/USD yesterday. The UX index
declined by 0.8% to end at 1097 points; the benchmark is nearing its 2009
all-time low in terms of USD-denominated valuation. Avdyivka Coke (AVDK) lost
3.5% to UAH 2.43 after reports of artillery explosions on the company’s
territory northwest of Donetsk. Other steel-related names were also sharply
lower, with Azovstal (AZST) and Yenakievo Steel (ENMZ) tumbling by 4.4% and 5.7%
respectively. Motor Sich (MSICH), Krukiv Wagon (KVBZ) and DonbasEnergo (DOEN),
which have less exposure to the occupied territories, each added 0.9% for the
session. In London, independent gas producer JKX Oil&Gas (JKX) was
little-changed near GBp 37.50 despite positive news that the company has
extended its Zaplavske exploration license in Poltava province by 5 years.
Ferrexpo (FXPO) continued its downward momentum, declining 1.6% to GBp 78.50.
Warsaw trading, Kernel (KER) down by 2.7% while Astarta (AST) added 1.1% to PLN
26.30.
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