Kyiv-listed stocks finished higher on Friday (Jun 26) ahead of the long Constitution Day weekend, with the local market avoiding Monday’s sharp falls in global bourses on Greek default concerns due to the holiday closure. The UX index rose a half percent to close at 1024 points. All 10 blue chips ended in the black, which we suppose was a result of short-covering purchases by active traders. Motor Sich (MSICH) finally surpassed the UAH 2800 level, gaining 0.4%. UkrNafta (UNAF) added 0.6% to UAH 287 per share while CentrEnergo (CEEN) was flat at UAH 7.75. In low-liquidity stocks. Avdyivka Coke (AVDK) rose 4.4% to UAH 1.15 and Yenakievo Steel (ENMZ) advanced 2.7% to UAH 17.44. In London, where markets where open yesterday (Jun 29), MHP slumped 11% to a fresh local minimum of USD 10 on the nose, while Ferrexpo edged down by 1.5%. Warsaw-listed Astarta (AST) slipped 2.7% on Friday after failing to anchor above PLN 30.
Fixed Income
Ukrainian sovereigns were lower on Friday, with Ukraine-23s dropping by 0.6p.p. to 52.6/53.1 (19.6%/18.9%). Corporate names were mixed. Following the passage of a restructuring of Metinvest’s 2015 bonds, Metinvest-18s improved by a rather meager 0.9p.p. to 55.0/58.0 (36.9%/34.2%), while Ferrexpo-19s inched down by 0.1p.p. to 84.6/86.8 (15.9%/15.1%).
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