Kyiv-listed
stocks demonstrated moderate growth on Wednesday (Sept 9) after President
Poroshenko said there has been silence on the front line with pro-Russian
occupied territories this week for the first time in the past year and a half.
The UX index climbed 0.4% to close at 989 points. Quotes for low-liquidity
stocks which are linked to the situation in the east of Ukraine advanced the
most, with Alchevsk Steel (ALMK) jumping 8.9% and Avdyivka Coke (AVDK) gaining
1.8% to UAH 1.14. UkrNafta (UNAF) did not react to news that the company may
formally lease the Kremenchuk Oil Refinery, finishing nearly flat at UAH 271. On
the interbank currency market, the hryvnia strengthened by 1.1% to close at
bid/ask of 22.00/22.15 UAH/USD. In London, Ferrexpo (FXPO) rose slightly above
the GBp 60 level after a 2.5% gain. Avangard (AVGR) continued to slump to new
all-time lows, plunging another 15% to 26 cents. Warsaw-listed Ukrainian stocks
were mixed. Milkiland (MLK) slid 10.2% to PLN 0.97 after the company reported
that it lost some EUR 8mn as a result of the collapse of UPB Bank. Meanwhile,
Kernel (KER) picked up 2.4% to close at PLN 43.50.
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