Ukrainian equities listed in Kyiv took another hit on Monday (Nov 16)
as preliminary GDP data for 3Q15 was below expectations. The country’s economy
shrank by 7.0% YoY in the Jul-Sept period. The UX index fell 2.9% to 717 points.
Sporadically-traded Alchevsk Steel (ALMK) was the only blue chip ending in the
black for the day. Other steel-related stocks were hammered, with Azovstal
(AZST) slumping 9.3% to near 41 kopecks and Yenakievo Steel (ENMZ) losing 8.0%
to close at UAH 14.70 per share. UkrNafta (UNAF) dropped below the UAH 200
support level, declining by 3.9% to UAH 197. Meanwhile, Motor Sich (MSICH) was
only marginally lower, inching down 0.2% to UAH 1986. On the currency front, the
hryvnia weakened by half a percent to close at bid/ask of 23.28/23.35 UAH/USD.
London-listed Ferrexpo (FXPO) rebounded by 4.9% to finish at GBp 32 while
Avangard (AVGR) corrected by 6.7% to USD 1.54 on profit-taking after the stock
surged almost 35% last week. In Warsaw trading, Kernel (KER) slipped 2.0% to PLN
49.00 and Milkiland (MLK) lost 9.4% to close at PLN 1.73 after the company
reported weak 3Q15 financial results.
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