Ukrainian
equities rallied across the board on Thursday (Feb 12) after IMF managing
director Christine Lagarde announced a new USD 17.5bn support program for the
country; equity investors were more impressed than those in the Eurobond market
by the announcement, with bondholders likely to take a hit from sovereign
restructuring. News that an agreement aimed at ending the fighting in Ukraine
was reached at Minsk peace talks also boosted local market activity. The UX
index had its best day in more than 7 months, jumping by 6.2% to close at 1105
points. Low-liquidity blue chips Avdyivka Coke (AVDK) and Alchevsk Steel (ALMK)
soared by 40% and 23% respectively, while volume leader Motor Sich (MSICH)
gained 5.3% to close at UAH 2913 per share and CentrEnergo (CEEN) rose 4.9% to
UAH 7.45. London-listed Ukrainian companies also enjoyed a solid rise, with
Avangard (AVGR) surging 37% to USD 3.50, MHP (MHPC) adding 3.2% to USD 9.60, and
Ferrexpo (FXPO) advancing 10.4% to GBp 68.75. In Warsaw trading diversified
agriculture group Kernel (KER) rose by 4.8% to PLN 31.75 and sugar producer
Astarta (AST) picked up 1.6%. Lugansk-based Agroton (AGT) gained 8.6% to close
at PLN 1.52.
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
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