Kyiv-listed
stocks ended higher on Friday (Feb 20) but failed to rise by enough to keep pace
with the latest wave of hryvnia devaluation. The interbank currency exchange
rate rocketed up by 8.0% to 29.70 UAH/USD in a single day, as it appears that
exporters are trying to postpone their mandatory currency conversion into the
hryvnia. The UX index added 1.6%, returning to just below the 1100 point level.
The only loser in the UX basket was DonbasEnergo (DOEN), which edged down 0.9%
to close at UAH 30 on the nose. UkrNafta (UNAF) picked up 4.2% to UAH 303 per
share, as the company’s sales are linked to global oil prices, and hryvnia
devaluation is sometimes moderately positive for revenue. CentrEnergo (CEEN)
added 3.5% to UAH 7.72. In London trading, JKX Oil&Gas (JKX) bounced back
from a big loss earlier in the week by 19.6% despite the company’s weak
production results in Ukraine for January. Warsaw-listed Kernel (KER) was
essentially unchanged at PLN 31.40 while Astarta (AST) recovered by just 0.9%
after sliding 8.0% a day earlier.
full reportEavex Capital welcomes any questions or comments you may have regarding our
research products.
Please contact our office in Kyiv at 380-44-590-5454, or
by email:
Alexander Klymchuk, Head of Sales,
[email protected]
Dmitry
Churin, Head of Research, [email protected]
