Ukrainian stocks finished marginally higher on Friday (Aug 21) ahead
of the long Independence Day weekend, with the local market completely ignoring
the heavy selloff on the main European bourses. The UX index inched up 0.1% to
end at 977 points. Electricity names supported the gauge, with CentrEnergo
(CEEN) and DonbasEnergo (DOEN) picking up 0.4% and 0.9% respectively. Quotes for
Avdyivka Coke (AVDK) and Yenakievo Steel (ENMZ) both added about 2.5% on minimal
turnover. Meanwhile, in the most active issues, Motor Sich (MSICH) shed 0.4% to
UAH 2645 and UkrNafta (UNAF) lost 1.3%, closing at UAH 253 per share. On the
interbank currency market, the hryvnia gave up 0.7% to finish at bid/ask of
22.14/22.24 UAH/USD. In contrast to local UX names, Warsaw-listed Ukrainian
stocks have not remained immune to the massive European selling; on Monday (Aug
24), Kernel (KER) got hammered by 7.5%, falling back to PLN 39.50, and Astarta
(AST) slid 5.3% to PLN 28.90. It was a similar story in London for Ferrexpo,
which took a 10.2% pounding to end below GBp 58.
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