Ukrainian equities listed in Kyiv continued to slide southward on
Monday (Dec 21), as Russia announced it will introduce a food embargo against
Ukraine next month in response to Kyiv’s trade deal with the EU. The Kremlin
also ordered a suspension of Russia’s 2011 free trade agreement with Ukraine,
which will effectively raise customs tariffs for Ukrainian exporters to Russia
by 7%. The UX index lost 1.6% to close at 660 points. UkrNafta (UNAF) shed 2.0%
to UAH 158 per share as global oil prices remained in a downward trend, and
Raiffeisen Aval (BAVL) dropped 2.9% to 7.03 kopecks after the bank reported
completion of its new share issue, which dilutes the stock’s free-float from
3.5% to 1.8%. Motor Sich (MSICH) was little-changed near UAH 1940. On the
interbank currency market, the hryvnia gained 0.9% against the dollar to close
at bid/ask of 23.25/23.40 UAH/USD. In London, Ferrexpo (FXPO) recovered another
11% from its all-time low touched last week, finishing the day at GBp 17.50, and
MHP (MHPC) picked up 1.5% to USD 8.88. In Warsaw, Astarta (AST) slipped 2.0% and
Agroton (AGT) sold off by 5.7% to PLN 0.99, while Kernel (KER) edged up half a
percent to PLN 46.40.
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