Kyiv-listed stocks remained in a pattern of low volatility last week, with the UX index staying inside a tight range of 1275-1285 points. The domestic news flow was dominated by the conflict between the country’s two main law enforcement agencies: the National Anti-Corruption Bureau (NABU) and the Ukrainian Security Service (SBU). The presidentially-controlled SBU has often tried to limit the influence of NABU, the agency which was created after 2014 and which is generally supported by Ukraine’s Western backers, as it is viewed as less corrupt than other state institutions.
The UX index inched up by 0.3% to close at 1282 points. Aviation engine producer Motor Sich (MSICH) was the most notable gainer in the 5-stock index basket, adding 2.2% to close at UAH 3283 per share. CentrEnergo (CEEN) was little-changed at UAH 11.43 while low-liquidity DonbassEnergo (DOEN) rose 0.8% to UAH 18.82. UkrNafta (UNAF) remained pegged to the UAH 143 per share level, where it has been sitting for more than a month.
In London trading, Ferrexpo (FXPO) resumed its autumn correction, slipping 3.7% to GBp 254 after a notable rebound over the preceding week. MHP (MHPC) picked up 0.9% to USD 11.35 after news that the European Bank of Reconstruction and Development (EBRD) has provided the company with a new loan for energy efficiency program implementation.
On the Warsaw Stock Exchange, Kernel (KER) edged down by 1.0% to PLN 47.94 after the company’s released financial results for July-September did not impress investors. Although Kernel boosted its revenue by 40% YoY in the period, its bottom line declined due to lower gain from biological assets revaluation.
The hryvnia extended its recent slide, weakening by 0.7% to 27.09 UAH/USD against the dollar. The NBU said that it had declined to use the country’s foreign currency reserves to support the hryvnia last week. The NBU’s forex reserves were estimated at USD 19.0bn at the end of November.
STOCKS IN THE NEWS
- Kernel Boosts Revenue by 40% YoY to USD 536mn in Jul-Sept
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