Ukrainian equities were mixed again on Thursday (Oct 29) as the UX index continued to flirt with the 800-point mark. Among notable news for the day, the Russian government (as expected) ignored a deadline to approve Ukraine’s Eurobond restructuring offer for a USD 3bn issue maturing in December. Among 10 blue chips, 3 issues ended higher. Azovstal (AZST) rebounded from its recent slump by 3.1% to 59 kopecks and Raiffeisen Aval (BAVL) added 3.2% to 8.10 kopecks, while DonbasEnergo (DOEN) inched up 0.1% to UAH 18.45. Avdyivka Coke (AVDK) was the worst performer, losing 2.0% to UAH 1.07 despite the company unexpectedly reporting a small net profit for 9M15 instead of a loss. Volume leader Motor Sich (MSICH) slipped half a percent to end at UAH 2012 per share. On the interbank currency market, the hryvnia finished nearly unchanged at 23.00 UAH/USD. London-listed iron ore producer Ferrexpo (FXPO) declined 1.4% to GBp 34.50 and poultry producer MHP (MHPC) edged down 1.1% to UAH 9.15. In Warsaw trading, Ukrainian agro companies were lower in line with an overall decline on European bourses. Astarta (AST) lost 3.0% to PLN 34.00 and Kernel (KER) inched down 0.3% to PLN 52.50.
Fixed Income
Ukraine’s pre-exchange, dead-rubber Eurobond issues once again closed flat on Thursday, with Ukraine-17s and Ukraine-23s finishing unchanged at 79.0/80.0 and 79.5/81.5, respectively. In corporate issues, MHP-20s inched up by 0.1p.p. to 86.3/87.3 (12.4%/12.0%) and UkrLandFarming-18s advanced by 4.5p.p. to 49.5/49.5 (48.7%/48.7%) after the successful completion of the bond restructuring of ULF subsidiary Avangard.
FIXED INCOME
- PrivatBank Continues to Show Breakeven in 3Q15- Agroton Offers to Buy Back Bonds at 30 Cents on the Dollar- Avangard Pays Coupon on its USD 200mn Restructured Bonds
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]
