Kyiv-listed stocks were mostly lower on Tuesday (Feb 16), with the
market closing before Prime Minister Arseniy Yatsenyuk managed to survive a
no-confidence vote against his Cabinet. The UX index fell 1.0% to close at 619
points. Azovstal (AZST) once again took the most points off the benchmark,
falling 5.0% to 28.80 kopecks. Raiffeisen Aval (BAVL) dropped 3.8% to 6.77
kopecks amid expectations that 2016 won’t turn out much better than last year
for the country’s banking system. On the upside, CentrEnergo (CEEN) advanced
1.6% to UAH 4.50 after Parliament cancelled the obligatory placement of a 5%
stake on the stock exchange in state-owned companies slated for privatization.
The cancellation of the law clears the way for a more transparent and
competitive privatization of the state’s 78% stake in CentrEnergo. On the
interbank currency market, the hryvnia edged up 0.4% to close at bid/ask
26.65/26.85 UAH/USD; the NBU said it intervened by selling USD 49.8mn on the
market to prop up the local currency. London-listed Ferrexpo (FXPO) surged 7.7%
to GBp 21.00 and MHP (MHPC) climbed 0.8% to USD 7.51. In Warsaw, Kernel (KER)
rose 4.3% to PLN 46.85 as market players began to price in the company’s recent
acquisition of additional sunflower seed crushing facilities.
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