Kyiv-listed stocks finished mixed on Thursday (Dec 18) after a sharp rise in the first half of the trading session. The UX index gave back most of the gains, inching up by 0.3% to close at 1003 points. The main contribution to the benchmark was made by UkrNafta (UNAF), which added 4.0% thanks to signs that global oil prices may finally be ready to stop declining. Meanwhile, Raiffeisen Aval (BAVL) and Motor Sich (MSICH) retreated by 0.4% and 0.7% respectively. In less liquid blue chips, Yenakievo Steel (ENMZ) continued to rise on short covering purchases, advancing 4.1% to UAH 22.40 per share. London-listed Ferrexpo (FXPO) shed 2.5% to close at GBp 47.91. JKX Oil&Gas (JKX) and MHP (MHPC) were unchanged. In Warsaw, Kernel (KER) and Astarta (AST) both were up by 3.7%, with the latter ending at PLN 16.90.
Fixed Income
Ukrainian sovereigns advanced across the board on Thursday in their strongest rebound since the start of their sharp slide in late November, after US President Obama signed a major law specifically aimed at supporting Ukraine. Ukraine-23s improved by 4.9p.p. to 64.3/69.3 (15.2%/13.8%) and Ukraine-17s jumped 7.6p.p. to 65.6/71.6 (23.9%/20.2%). Corporate names were mixed. Avangard-15s declined by 2.0p.p. to 60.0/63.0 (84.5%/76.4%) on increasing concerns about restructuring of its bonds next year, while UkrLandFarming-18s rose by 2.5p.p. to 40.0/50.0 (49.9%/39.3%).
POLITICS AND ECONOMICS
- Ukraine’s Industrial Production Decline Remains at 16.3% YoY in November
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