Equity
Ukrainian stocks started the week higher, with the UX index rising by 0.9% to close at 1017 points on Monday (Mar 30). Global investor sentiments were buoyed by hopes for stimulus to boost China’s economy, and the strongly positive external environment helped the local market to recover early losses that saw the UX benchmark slip below the 1000 level for the first time in nearly two months. Among blue chips, CentrEnergo (CEEN) and Avdyivka Coke (AVDK) increased by 0.6% and 2.8% respectively. UkrNafta (UNAF) was nearly flat at UAH 303 per share, as it failed to react to news that state-owned NaftoGaz has officially recognized a UAH 3.75bn debt to the company for natural gas which Naftogaz received from UkrNafta during 2006-11. Raiffeisen Aval (BAVL) edged down by 0.9% to 9.30 kopecks. In London, Ferrexpo (FXPO) added 3.6% to close at GBp 64.00 and MHP (MHPC) climbed by 2.2% to USD 9.50. Warsaw-listed Agroton (AGT) slid 6.0% to PLN 1.09 while Kernel (KER) advanced by 7.9% to get back to PLN 37.75 after several sessions of correction.
Fixed Income
Ukrainian sovereigns were up on Monday with Ukraine-23s rising by 2.1p.p. to close at 42.5/43.5 (24.7%/23.9%). Corporate names were flat. MHP-20s and Metinvest-18s finished unchanged at 65.0/66.0 (19.5%/19.1%) and 40.0/45.0 (50.4%/44.4%), respectively.
STOCKS IN THE NEWS
- NaftoGaz Recognizes UAH 3.75bn Gas Debt to UkrNafta
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