Local Ukrainian
stocks traded in the red during all of Monday’s (Mar 23) session before
recovering at the end of day on news about the intention of the Finance Ministry
to issue a USD 1.0bn Eurobond under US guarantees next month. The UX index ended
unchanged at 1051 points, with blue chips mixed. Alchevsk Steel (ALMK) was the
biggest mover, falling 5.5% to 1.21 kopecks per share on low volume, while
Yenakievo Steel (ENMZ) posted a gain of 3.2% to UAH 17.50. Volume leader
UkrNafta (UNAF) edged down by 0.4% on turnover of UAH 2.7mn, indicating that the
corporate conflict between the government and industrialist Igor Kolomoyskiy
over the company’s management is having only a minor effect on the stock. In
London, Ferrexpo (FXPO) added 1.8% and MHP improved by 3.4% to USD 9.20.
Warsaw-listed Kernel (KER) saw some profit-taking, slipping back 2.3% after a
robust 8.2% rise on Friday.
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