On Monday (Jan 11), Kyiv-listed stocks relinquished their gains from the low-activity first week of 2016, with the UX index falling 2.4% to 662 points, as the market seemed to be affected by the general selloff on Western bourses to start the year. There was no blue chip with a gain for the day. Selling accelerated in the second half of the session and ran in low deal volumes. UkrNafta (UNAF) gave back its recent rise, retreating 4.0% to its technical support level of UAH 170 per share. Heavyweight CentrEnergo (CEEN) dropped by 4.4% to UAH 4.32 and Motor Sich (MSICH) slipped 0.4% to UAH 1954. On the currency front, the hryvnia weakened by 0.4% to close at bid/ask of 23.40/23.50 UAH/USD. In London, Ferrexpo (FXPO) advanced by 1.2% to GBp 21.00, while JKX Oil&Gas (JKX) fell 2.8% to GBp 25.75 amid minority shareholders’ latest attempt to change the company’s management. Warsaw-listed Kernel (KER) continued to trade near its local maximum, adding 1.1% to PLN 46.79. On the downside, Agroton (AGT) shed 3.2% to PLN 0.91 and Astarta (AST) decreased by 1.1% to PLN 34.30.
Fixed Income
Ukrainian sovereign bonds rose on Monday with Ukraine-19s and Ukraine-27s up by 2.0p.p. and 2.3p.p. to 95.0/95.8 (9.4%/9.1%) and 90.8/91.5 (9.0%/8.9%), respectively. In the corporate universe, UkrLandFarming-18s grew by 1.0p.p. to 49.0/52.0 (52.4%/48.6%) while DTEK-18s declined by 4.5p.p. closing at 38.5/41.5 (62.6%/57.7%).
POLITICS AND ECONOMICS
- Poroshenko Calls for New “Concrete” Minsk Timeline
- Full-Year 2015 Inflation Reported at 43%; December CPI Edges Up 0.7%
STOCKS IN THE NEWS
- Ferrexpo Reports Full-Year Output Rise of 6% to 11.7mn Tonnes
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