Ukrainian stocks listed in Kyiv finished lower on Friday (Jun 12) despite a firm gain in the first half of the trading session. The UX index lost 1.5% to close 1009 points. We suspect that high volatility could be attributed to expiration of the UX futures contracts later today, an event occurs every three months. In particular blue-chip stocks, the steepest losses were in low-liquidity Krukiv Wagon (KVBZ), which tumbled 9.6% to UAH 9.55 per share. Heavyweights Motor Sich (MSICH) and CentrEnergo (CEEN) declined by 0.6% and 0.8% respectively, while UkrNafta (UNAF) dropped 2.2% to end at UAH 266. In London, Ukrainian stocks were mixed, with Ferrexpo (FXPO) slipping 1.3% to GBp 74 while JKX Oil&Gas (JKX) advanced by 6.1% to GBp 30.50. Warsaw-listed Kernel (KER) picked up 2.7% to PLN 38.00.
Fixed Income
Quotes for Ukrainian sovereign Eurobonds rebounded somewhat on Friday after the previous two days’ selloff. The longest outstanding bonds with maturity in 2023 edged up 0.3 p.p to close at 54.0/56.5 (18.9%/18.0%), and medium-term Ukraine-20s added 1.0 p.p. to 48.5/49.5 (26.4%/25.8%). In corporate issues, DTEK-18s fell 2.0 p.p. to 44.0/47.0 (45%/42%) and UZ Rail-18s edged down 0.4 p.p. to 62.0/64.0 (30%/28%).
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