It was an awful day for Kyiv-listed stocks on Wednesday (Nov 18) amid
talk that the Ukrainian Exchange is at risk of losing its license from the
Securities and Exchange Commission (SECU) if it does not change its ownership
structure. As we have noted previously, Parliament earlier this year forbade
Russia capital in Ukrainian financial institutions, exempting only Russian banks
operating in Ukraine. The UX index plummeted by 6.9% to close at new all time
low of 670 points. All 10 blue chips finished deeply in the red. Among
heavyweight issues, CentrEnergo (CEEN) tumbled 11.8% to UAH 4.30 and UkrNafta
(UNAF) fell 9.5% to UAH 177. Raiffeisen Aval (BAVL) found support at 7 kopecks
per share, losing “only” 5.0% for the day. In second tier stocks, there was a
gain in thinly-traded UkrTelecom (UTLM), which added 4.7% to 15.70 kopecks. On
the interbank currency market, the hryvnia edged down by another 0.4% against
the dollar to bid/ask of 23.85/24.00 UAH/USD. In London, MHP (MHPC) picked up
3.7% ahead of release of the company’s 3Q financial results, while Warsaw-listed
Astarta (AST) declined by 2.4% to PLN 32.00.
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