Kyiv-listed stocks rose on Thursday (Dec 17) on short covering by active traders. The UX index added 0.5% to close at 684 points. UkrNafta (UNAF) advanced by 1.2% to UAH 174 per share and Raiffeisen Aval (BAVL) picked up 1.0% to 7.48 kopecks. Among economic news for the day, the NBU left its benchmark interest rate unchanged at 22% for a second meeting. The central bank, which pledged to lower interest rates significantly if inflation subsides next year, said that the foreign-exchange market had stabilized after the hryvnia lost some 12% against the dollar in October and November. The hryvnia gained 0.9% against the dollar yesterday to close at bid/ask of 23.40/23.50 UAH/USD on the interbank market. In London trading, nothing has changed for Ferrexpo (FXPO), which continued its free-fall with a loss of 8.2% to GBp 14.00. MHP (MHPC) dipped below the USD 9 level on a 1.3% decline to USD 8.98. Warsaw-listed Ukrainian stocks were mixed, with Industrial Milk Company (IMC) dropping by 3.9% to PLN 5.85 while Agroton (AGT) added 3.9% to PLN 1.06.
Fixed Income
Ukrainian sovereign bonds rose on Thursday with both Ukraine-19s and Ukraine-27s up by 0.3p.p. to 93.8/94.5 (9.8%/9.5%) and 87.3/88.0 (9.6%/9.5%), respectively. In the corporate universe, DTEK-18s declined by 0.5p.p. to 39.0/43.0 (65.4%/58.9%) and Metinvest-18s finished unchanged at 43.0/46.0 (58.6%/54.2%).
POLITICS AND ECONOMICS
- MinFin: Ukraine Won’t Redeem Maturing USD 3bn ‘Russia Bond’
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