Kyiv-listed Ukrainian stocks finished mixed last week after initial buying momentum turned into a correction. The news flow was generally neutral, with most domestic headlines dedicated to developments in Parliament. One of big events was a motion submitted by Prosecutor General Yuriy Lutsenko on granting consent to bring criminal charges against six lawmakers MPs from various political parties. The motion related to separate corruption cases. In particular, two lawmakers are suspected by the National Anti-Corruption Bureau (NABU) of taking bribes worth USD 310,000 for illegally allowing amber production. Protesters gathered outside the Parliament building to demand the creation of a special court to try graft cases and accusing President Poroshenko and his allies of dithering on legal reforms. Authorities in Ukraine are still able to use the threat of prosecution in crooked courts as leverage over rivals.
The UX index edged up 0.2% to 1040 points after a highly volatile trading week, as the Deposit Guarantee Fund began auctioning blue chip stocks from the seized portfolios of insolvent banks. There were auctions offering blocks of shares in CentrEnergo (CEEN) and in UkrNafta (UNAF). The biggest event, an auction of a roughly 0.5% stake in Motor Sich (MSICH), is scheduled for Jul 28. Motor Sich was the worst performing blue chip for the second week in a row, losing 5.0% to UAH 2375 per share, while UkrNafta (UNAF) rose 8.5% to UAH 129 after the company’s majority shareholder, state giant NaftoGaz, backed it in its fight for license prolongation with the State Geological Service.
In London trading, Ferrexpo (FXPO) rose 4.1% to GBp 214 while Warsaw-listed Kernel (KER) fell 1.8% to PLN 66.00.
The hryvnia was little-changed over the week, trading at +/- 5 kopecks around the 26.00 UAH/USD level.
POLITICS AND ECONOMICS
- Poroshenko Hosts EU’s Juncker, Tusk in Kyiv
- Negotiations Resume in Ryanair Fiasco after Groysman Intervention
- Ukraine’s Headline Inflation Accelerates to 15.6% in June
STOCKS IN THE NEWS
- NaftoGaz Supports UkrNafta in License Battle with Government
full report
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