Kyiv-listed stocks finished mixed on Thursday (Mar 12), giving up most of their strong gains in the first half of the trading session that had been driven by Wednesday’s news about the IMF approval of an aid package of USD 17.5bn for Ukraine. The UX index shed 0.3% to close at 1089 points. Low liquidity blue chips dragged down the indicator, with Azovstal (AZST) and Avdyivka Coke (AVDK) falling 2.6% and 4.5% respectively. On the upside, Motor Sich (MSICH) climbed 0.7% to UAH 2715 and volume leader CentrEnergo (CEEN) added 1.3% on turnover of just under UAH 1mn. London-listed Ukrainian names ended notably higher, with Ferrexpo (FXPO) rising by 7.1% and Avangard (AVGR) adding 3.6% to USD 2.75. Meanwhile, MHP remained locked in a narrow trading range near USD 9 despite a gain of 1.1%. In Warsaw trading, Kernel (KER) edged up 0.6% to PLN 31.40.
Fixed Income
Ukrainian sovereigns saw some moderate growth on Thursday after the widely-expected positive IMF announcement, with Ukraine-23s rising by 1.5p.p. to 46.8/47.8 (21.8%/21.3%). Corporate debt names were also higher. Metinvest-18s advanced by 4.5p.p. to 45.0/50.0 (45.9%/40.7%) and MHP-20s inched up by 0.3p.p. to 65.0/67.8 (19.4%/18.3%).
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