The
UX index enjoyed a solid advance of 3.1% on Friday (Jan 29) to end the month of
January at 652 points. Market players covered short positions after a clearly
bearish start to the year. The local benchmark still finished down 4.9% for the
month, which was nonetheless a bit better than the drop of 6.5% for the MSCI
Emerging Markets index. All 10 UX index components were higher on Friday, with
low-liquidity Krukiv Wagon (KVBZ) posting the largest gain; the issue jumped
12.7% to UAH 8.68 per share. UkrNafta (UNAF) added 4.1% to UAH 159 and Motor
Sich (MSICH) picked up 1.0% to UAH 1784. On the interbank market, the hryvnia
continued to suffer losses, declining by 1.8% to bid/ask of 25.55/25.70 UAH/USD
on turnover of around USD 100mn. The NBU did not intervene the market to support
the currency. In London, Ferrexpo (FXPO) gained 2.5% to GBp 17.50 while both MHP
(MHPC) and Avangard (AVGR) were unchanged at USD 8.00 and USD 1.20 respectively.
Warsaw-listed Astarta (AST) fell 6.8% to PLN 29.80 after a firm rise in the
previous session, and Kernel (KER) climbed 1.0% to PLN
44.85.
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