Ukrainian stocks ended mixed on Friday (Dec 19) as there was no clear
understanding of how the government might be able to resolve the panic on the
currency market. Traders are confused by the existence, in practice, of three
different UAH/USD exchange rates in the country. One is the official NBU rate,
which remains set in a tight range around 15.77 UAH/USD. The second one is the
interbank rate, which is now at 16.20, and the third one is the rate outside the
banking system, which is now flirting with the 20 UAH/USD level. The
UAH-denominated UX index inched down by 0.1% to 1002 points on Friday. UkrNafta
(UNAF) rebounded by 6.1% to reach UAH 206 per share. Motor Sich (MSICH) climbed
0.7% to UAH 2276 while CentrEnergo (CEEN) shed 0.4%. Raiffeisen Aval (BAVL) fell
2.7% after the NBU said the banking system had a large net loss in November. In
London trading, Ferrexpo (FXPO) rebounded by 5.4% to GBp 50.50. Struggling
Avangard (AVGR) got crushed, falling 20% to USD 2.40. Warsaw-listed Kernel (KER)
rose by 6.1% and Astarta (AST) advanced by 3.8%, with the former ending at PLN
29.39.
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