Kyiv-listed stocks finished mixed on Monday (Aug 31) after deadly
violence outside Parliament disrupted the government’s attempts to push through
a bill giving special status to separatist-occupied territories in line with
February’s Minsk ceasefire agreement. The UX index ended essentially unchanged
at 980 points. Half of the index’s 10 components ended in the black, with
CentrEnergo (CEEN) adding 0.5% to UAH 7.39 and DonbasEnergo (CEEN) advancing
1.7% to UAH 19.76. It is worth noting that the UX index committee, at its
scheduled meeting last week, did not make any changes to the index components;
in our view, it would be appropriate to remove the stocks of companies which
have direct exposure to the occupied territories. On the interbank currency
market, the hryvnia slumped by 3.7% against the dollar to close at bid/ask of
21.80/22.20 UAH/USD. In London, Ferrexpo (FXPO) picked up 5.6% to GBp 61.75
while distressed issue Avangard (AVGR) plummeted by a further 25% to 52 cents.
Warsaw-listed Ukrainian stocks were mostly lower. Astarta (AST) sold off by 7.4%
to PLN 30.60 and Industrial Milk Company (IMC) slipped 0.9% to PLN 5.25.
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