Ukrainian equities started off the new month in negative territory on
Monday (Feb 1) amid reports of new shelling against Ukrainian army positions by
pro-Russian separatists following the latest stall in the Minsk peace process.
Such developments on the frontline once again discouraged buyers on the local
market. The UX index lost 1.9% to close at 639 points, and there were no blue
chip gainers for the session. UkrNafta (UNAF) slid 5.5% to UAH 150 per share
after news that one of the company’s newly-appointed top managers has already
resigned, which could be a signal of continuing tough corporate conflict inside
the company. In the steel sector, Azovstal (AZST) edged down 0.9% to 34.50
kopecks and Yenakievo Steel (ENMZ) dropped 5.1% to UAH 12.80. On the interbank
currency market, the hryvnia strengthened marginally, adding 5 kopecks to close
at bid/ask of 25.50/25.65 UAH/USD. The turnover for the day was reported at
USD 164mn. The NBU did not intervene the market despite the hryvnia’s fall of 4%
over the last week. London-listed Ferrexpo (FXPO) surged 15.7% to GBp 20.25
while Avangard (AVGR) slumped 16.7% to one dollar on the nose. In Warsaw
trading, Kernel (KER) corrected by 1.9% to PLN 44.00 and Astarta (AST) climbed
1.3% to PLN 30.20.
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