The UX index declined by 0.4% to 1024 points on Wednesday (Jun 17) as market players were concerned about increased volatility in the UAH/USD rate this week. The NBU said it will allow the hryvnia to float in a fairly wide range of 21-23 against the dollar in the near term. The country’s largest oil producer UkrNafta (UNAF) gained 1.0% to close at UAH 281 per share. Electricity stocks were lower, with CentrEnergo (CEEN) and DonbasEnergo (DOEN) retreating by 0.8% and 1.6% respectively. In London trading, Ferrexpo (FXPO) lost 1.1% to close at GBp 69.25 while MHP (MHPC) was unchanged at USD 10.45. Warsaw-listed Kernel (KER) was also unchanged at PLN 38.25, ignoring the company’s announcement that it raised USD 65mn for use as working capital in its farming segment. Meanwhile, Astarta (AST) advanced by 3.2% to close at PLN 28.50.
Fixed Income
Ukrainian sovereigns were mixed in light activity yesterday as creditors continued to fight the push for a write-down on their principal holdings despite a rejection of their latest plan by the IMF. Ukraine-23s inched up 0.3 p.p. to close at 52.1/52.5 (19.6%/18.8%) while Ukraine-21s shed 0.8 p.p. to 51.5/52.5 (24.0%/23.5%). State banking issues were notably lower, with UkrEximBank-16s declining 2.0 p.p. to 58.0/63.0 and OschadBank-18s down 1.8 p.p. to 72.0/74.0.
POLITICS AND ECONOMICS
- Gov’t Forecasts 10% YoY Decline in Grain Harvest to 58mn Tonnes
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