Kyiv-listed equities finished in positive territory last week, boosted by the Ukrainian Exchange’s decision to simplify access to trading for new brokers. Meanwhile on the economic front, the government reported a national budget surplus of UAH 3.1bn for October thanks to improving revenue target implementation along with moderate spending. The budget surplus in October should help to hit the target of an overall budget deficit of not more than 3.7% of GDP for the year.
The UX index rose by 1.2% for the week to close at 808 points on Friday (Dec 2). Raiffeisen Bank Aval (BAVL) was the most active issue, advancing by 3.9% to 13.00 kopecks. Motor Sich (MSICH) added 1.5% to close at UAH 1889 while CentrEnergo (CEEN) edged down 0.9% to UAH 10.38. UkrNafta (UNAF) was little-changed at UAH 109 per share despite a surge in the Brent oil price benchmark to USD 53/bbl after OPEC reached a deal to cut production by 1.2mn barrels per day in order to raise global prices.
In London trading, Avangard’s share price did not react to the company’s 3Q16 financial report, with the stock remaining at a distressed level of 47 cents. MHP (MHPC) recovered 2.2% from its recent contraction, climbing back to USD 9.00. Ferrexpo (FXPO) rose 2.8% to GBp 128. Warsaw-listed Kernel (KER) gained 4.5% to PLN 65.29 after the company reported an impressive increase in its net profit for the July-September quarter.
The hryvnia fell 1.0% on the interbank market to close at 26.00 UAH/USD with no action from the NBU to support the currency.
POLITICS AND ECONOMICS
- Poroshenko Makes First Contact with Trump
- Fugitive MP Claims He Spent USD 30mn on Yatseniuk Smear Campaign
- Ukraine’s C/A Deficit Shrinks to USD 230mn in Oct from USD 890 in Sept
STOCKS IN THE NEWS
- Kernel Reports EBITDA Increase of 31% YoY to USD 72mn in Jul-Sept
- Avangard Posts Small Positive EBITDA of USD 2.5mn for 3Q16
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