Locally-listed stocks started off the new month lower on Tuesday (Dec 1) after the Finance Ministry admitted what most observers already knew: that Ukraine will not meet the necessary conditions in time to obtain fresh funding from the IMF before the end of this year. The UX index lost 1.1% to end at 708 points. UkrNafta (UNAF) and CentrEnergo (CEEN) continue to slide southward, dropping by 2.6% and 1.1% respectively, and recent gainer Raiffeisen Aval (BAVL) corrected by 1.4% to 8.31 kopecks. In second-division issues, UkrTelecom (UTLM) slumped 13% to a new all-time low of 9.20 kopecks. On the interbank currency market, the hryvnia inched up by 0.2% to close at bid/ask of 23.94/24.04 UAH/USD. In London trading, Ferrexpo (FXPO) shed 1.9% to GBp 25.25 and Avangard (AVGR) rose 5.4% to USD 1.46. Warsaw-listed Kernel (KER) advanced by 2.9% to approach the PLN 50 level while Astarta (AST) was little-changed just below PLN 36.
Fixed Income
Ukrainian sovereign bonds improved on Tuesday with Ukraine-19s and Ukraine-27s up by another 0.5p.p. to 98.0/98.8 (8.4%/8.3%) and 93.0/93.8 (8.7%/8.6%), respectively. In the corporate universe, UkrLandFarming-18s declined by 2.1p.p. to 50.0/53.9 (49.3%/44.7%) and Metinvest-18s dropped by 1.0p.p. to 55.0/57.1 (42.0%/39.8%).
POLITICS AND ECONOMICS
- 2015 Grain Harvest Reaches 60mn Tonnes, But 2016 Winter Crops Suffering
FIXED INCOME
- DTEK Intends to Restructure its 2018 Eurobonds in 1Q16
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]
