Kyiv-listed stocks finished lower on Wednesday (Jul 1) with the UX index declining 1.3% to close at 1013 points, as it appeared that Ukraine’s decision to suspend imports of Russian gas was negatively viewed by market participants. On the other hand, if Kyiv ultimately manages receive better gas pricing terms, it should be a growth driver for the local market. In the steel sector, Azovstal (AZST) fell 1.6% to 78 kopecks. Heavyweight Motor Sich (MSICH) lost most of its recent gains, sliding 3.4% to end back below UAH 2800 per share. On the upside, UkrNafta (UNAF) rose 1.6% to UAH 294. In second-division stocks, sporadically traded Bogdan Motors (LUAZ) rose 2.6% from its previous listed price after news that the company will present a new city bus at the Bus World 2015 international exhibition. In London trading, Ferrexpo (FXPO) edged up 0.4% to GBp 66.75, while Warsaw-listed Kernel (KER) added 1.4% to PLN 38.30.
Fixed Income
Ukrainian benchmark sovereigns were lower on Wednesday despite news that Finance Minister Natalia Jaresko will rejoin restructuring talks with creditors next week in a confidential format. Ukraine-23s slipped by 0.5p.p. to 52.8/53.8 (19.9%/19.5%). Corporate debt names were mixed. UkrLandFarming-18s declined by 1.3p.p. to 46.0/48.0 (48.6%/46.3%) while Metinvest-18s improved by 1.7p.p. to 57.5/59.0 (34.8%/33.5%).
POLITICS AND ECONOMICS
- Kyiv Halts Russian Gas Purchases With No 3Q Deal in Place
full report
Eavex Capital welcomes any questions or comments you may have
regarding our research products.
Please contact our office in Kyiv at 380-44-590-5454, or by email:
Alexander Klymchuk, Head of Sales, [email protected]
Dmitry Churin, Head of Research, [email protected]
