Kyiv-listed stocks finished mixed last week amid elevated trading activity ahead of the quadrannual expiration of the UX future contracts on Jun 15. The contract expiration price came in at 1,034 points.
In Ukrainian economic-related news, there was an official announcement that the country has signed a nuclear fuel agreement with Australia. The announcement lacked specifics, and we assume it could actually be related to increased fuel supplies from multinational group Westinghouse. In any case, the deal could help to secure around 30% of the Ukrainian energy sector’s need for nuclear fuel. Currently the country still relies partially on nuclear fuel supplies from Russia.
The UX index gained 0.5% for the week to close at 1026 points. Motor Sich (MSICH) was the best performing blue chip after reports that the Ukrainian ambassador inspected a construction site in China where the aircraft engine maker has a joint venture with a local partner. The MSICH stock added 2.8% to UAH 2440 per share. Raiffeisen Bank Aval (BAVL) moved in line with the market, climbing 0.8% to 22.30 kopecks. CentrEnergo (CEEN) disappointed investors by unveiling a poor profit forecast of UAH 116mn for FY17, and the stock fell 3.4% to UAH 10.45. Second-tier name Krukiv Wagon (KVBZ) jumped 6.3% to UAH 9.40 after the company’s shareholders failed to agree on de-listing the issue at a meeting on Jun 16.
In London trading, Ferrexpo (FXPO) lost 4.4% to GBp 186 after JP Morgan assigned a sell rating to the stock, and MHP (MHPC) slid 2.0% to USD 10.00 without a visible reason. Warsaw-listed agro major Kernel (KER) shed 8.2% to close at PLN 64.00.
On the currency front, the hryvnia remained on the rise, gaining an additional 0.4% against the dollar, with the sell rate ending the week at 26.05 UAH/USD.
POLITICS AND ECONOMICS
- New US Sanctions Bill on Russia Draws EU Ire Over NatGas Threat
- May Data Pushes Headline Inflation Up to 13.5%
STOCKS IN THE NEWS
- UkrNafta Fails to Sell Oil at USD 55 at June Monthly Auction
full report
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