Locally listed Ukrainian stocks ended mixed on Tuesday (Sept 8) after
Russia threatened to challenge the legality of Ukraine’s IMF bailout loan if
Kyiv refuses to redeem a USD 3bn bond due in December. A creditor group that
owns half of Ukraine’s sovereign bonds agreed last month to accept a 20%
principal writedown and four-year maturity extensions. Other bondholders not
party to the deal, including Russia, are set vote on the agreement later this
month. The UX index inched down 0.2% to close at 986 points. Raiffeisen Aval
(BAVL) was the main drag on the index, losing 2.2%. Meanwhile in the steel
sector, Yenakievo Steel (ENMZ) and Azovstal (AZST) rose 3.1% and 0.6%
respectively; the latter finished just below the 80 kopeck mark. On the
interbank currency market, the hryvnia continued to weaken, with the dollar sell
rate climbing 0.8% to 22.40 UAH/USD. In London, Ferrexpo (FXPO) advanced by 2.6%
to GBp 59.50 and MHP (MHPC) picked up 3.1% to close at USD 9.25. Warsaw-listed
Ukrainian stocks were mostly lower; Kernel (KER) shed 1.6% to PLN 42.60 and
Astarta (AST) declined 1.4% to PLN 28.50.
full reportEavex 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]
