Kyiv-listed stocks finished lower on Monday (Dec 8), with technical
analysis logic mainly standing behind the selling in blue chips. The UX index
fell 1.1% to close at 978 points in its second session of retreat from the
psychological 1000 support level. The steepest loss in the UX basket was in
UkrNafta (UNAF), which slid 5.4% to UAH 205 per share on unconfirmed rumors that
the new government will prolong the temporary rise in the production tax for
oil&gas. In other blue chips, CentrEnergo (CEEN) lost 1.3% to UAH 7.40 and
Motor Sich (MSICH) was down 1.0%, while lower liquidity Krukiv Wagon (KVBZ)
gained 5.3%. In second-division stocks, DniproEnergo (DNEN) rose 1.5% to UAH 660
after the company’s parent group DTEK said it has resumed coal supplies from
Russia. Several top London-listed Ukrainian names were rather heavily in the
red. JKX Oil&Gas (JKX) plunged by another 14% to GBp 11.00, and Regal
Petroleum (RPT) was also dragged down by 9% to GBp 4.50 on the rumors about
extension of the increased production tax. Avangard (AVGR) dropped by 13.6% to a
fresh all-time low of USD 3.89 amid rising pressure on the company’s majority
owner Oleg Bakhmatiuk related to the default of his VAB Bank.
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