Kyiv-listed stocks experienced a volatile trading week with the UX index fluctuating in a wide range between 1575 and 1655 points. The large swing in the index was a seasonal event caused by the impending expiration of the UX index futures contracts on Mar 15 (a wave of contracts expires every three months). Some market players were focused on pushing the gauge lower ahead of the expiration, with the final contract price coming in at 1585 points.
The UX index then rebounded on Friday (Mar 16) to eke out a gain of 1.1% for the week, closing at 1629 points. UX index newcomer TurboAtom (TATM), the basket’s sixth blue chip member, gained 2.0% to UAH 14.10 per share. Meanwhile, UkrNafta (UNAF) fell 6.0% to UAH 103.00 after the Deposit Guarantee Fund (DGF) unloaded some of its UNAF shares which it had previously confiscated from insolvent banks. CentrEnergo (CEEN) rose 4.0% to UAH 19.50, making it the best performing blue-chip for the week. Raiffeisen Bank Aval (BAVL) picked up 0.9% to 33.60 kopecks, ignoring rumors that the bank’s majority shareholder Raiffeisen International and the EBRD are planning a squeeze-out of shares in the free float. Earlier this year the EBRD cooperated with BNP Paribas to conducted a squeeze-out at Raiffeisen Aval’s domestic rival UkrSibBank.
London-listed MHP (MHPC) remained in its previous trading range, finishing at 13.25 UAH/USD. News that MHP is in talks to buy struggling French poultry firm Doux had no impact on the infrequently-traded MHPC stock. Doux is controlled by French agricultural cooperative Terrena, which acquired a majority stake two years ago but which has faced continuous losses linked to competition from cheaper Brazilian chicken in key Middle Eastern markets.
In Warsaw trading, Agroton (AGT) was little changed at PLN 5.60 while Kernel (KER) appreciated by 2.6% to PLN 52.00.
On the currency front, the hryvnia slipped back by 1.1% to 26.40 UAH/USD, which could be considered a correction following its firm 2.2% gain over the preceding week.
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