Ukrainian locally-listed stocks finished marginally higher on
Thursday (Jun 25) with the UX index inching up 0.2% to close at 1020 points.
There was controversial news flow during the day, as the government and a
bondholders group led by Franklin Templeton continue to exchange messages
regarding the stalemate in restructuring talks. Finance Minister Natalia Jaresko
said Ukraine could “theoretically” default on its debt at the end of July. The
bondholder group responded by saying that writing off part of Ukraine’s public
debt would only add to the country’s difficulties in capital borrowing. MinFin
last week sent a new proposal to creditors that includes a reduction in the
amount of debt, a lowering of the interest rate and extension of maturity date,
with the next round of talks due on Jun 30. Among Kyiv-listed stocks, Motor Sich
(MSICH) added 0.2%, remaining below the UAH 2800 per share level. CentrEnergo
was unchanged at UAH 7.75, ignoring encouraging news that the government will
provide financing for coal purchases. In London, Avangard (AVGR) continue to
free-fall, losing 10% and closing at USD 1.25. Warsaw-listed Astarta (AST)
retreated 6.0%, dipping back below PLN 30. full reportEavex Capital welcomes any questions or comments you may have regarding our
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