Kyiv-listed equities experienced high volatility on Monday (Dec 15) as traders moved to cover their short positions in last hour of the session, pushing prices higher. The UX index ended with a gain of 3.1% despite spending most of the day in the red (the benchmark was down 2% at midday), closing at 964 points. Azovstal (AZST) led the growth, jumping 8.1% to 70.90 kopecks per share. CentrEnergo (CEEN) and Motor Sich (MSICH) advanced by 4.0% and 1.8% respectively on combined turnover of UAH 5.1mn, while UkrNafta (UNAF) was flat at UAH 184. Outside the UX basket, DniproEnergo (DNEN) added 8.4% to UAH 639 on exchange-leading volume of UAH 4.7mn. Warsaw-listed Ukrainian names suffered through a very rough day, with Kernel down 3.4% and Astarta tumbling 8.0% to PLN 16.89. In London, the misery continued for Ferrexpo with a 11.1% plunge to GBp 49.62; beaten-down JKX Oil&Gas reclaimed some ground, climbing by 1.0% and closing at GBp 12.88.
Fixed IncomeUkraine’s internationally-traded bonds continued to free-fall on Monday amid ongoing sovereign restructuring concerns, with Ukraine-23s down by another 4.2p.p. to close at 59.6/61.6 (16.6%/16.0%). Corporate names also finished lower. MHP-20s slumped 4.0p.p. to 69.0/71.0 (17.4%/16.7%) and DTEK-185 lost 4.1p.p., ending at 77.0/80.0 (93.5%/79.8%).
POLITICS AND ECONOMICS- Merchandise Trade Surplus of USD 570mn Registered for 10M14full report
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