Tuesday (Nov 11) was brutal for Kyiv-listed stocks, with the local
equity benchmark nearing its all-time (USD-denominated) low set during the
global financial downturn in the spring of 2009. Military escalations in the
Donbass region saw the UX index tumble 7.5% to close at 991 points, with the
loss exacerbated by the continuing slide in the hryvnia, which fell below 16
UAH/USD yesterday. Occupied-territory names Yenakievo Steel (ENMZ) and Alchevsk
Steel were in free fall, sliding by 21.6% to UAH 18.60 and 14.1% to 1.80
kopecks, respectively, and Avdyivka Coke was down 13.1% to UAH 2.02. UkrNafta
and Raiffeisen Aval lost more than 8% each. No blue chips were spared; volume
leaders Motor Sich and CentrEnergo posted the smallest declines at 5.4% and 5.0%
respectively on combined turnover of UAH 4.5mn. In second-tier names, recent
growth story DniproEnergo (DNEN) fell 10.2% to UAH 600 on the nose.
London-listed Avangard shed 3.3% to USD 5.80, while Ferrexpo, which benefits
from devaluation, gained 1.8%. Warsaw-listed issues were untraded yesterday due
to a public holiday.
full reportEavex Capital welcomes any questions or comments you may have regarding our
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Please contact our office in Kyiv at 380-44-590-5454, or
by email:
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