Ukraine’s main domestic equity index had a moderate rebound of 2.2% last week after dropping sharply by 10% over the preceding week after the ex-rights date for CentrEnergo’s dividend passed and the stock saw heavy losses. Quotes for CEEN now stands at UAH 16.75 after being above UAH 23 ahead of the deadline for the UAH 3.84 dividend per share payout.
The UX index closed at 1677 points on Friday (Jun 1). Low liquidity DonbasEnergo (DOEN) was the best performing index component, jumping by 11% to UAH 24.35 per share. Raiffeisen Bank Aval (BAVL) was also a notable gainer, picking up 4.4% to close at 33.70 kopecks. UkrNafta (UNAF) continued to disappoint, trading at UAH 107 after losing nearly 6% over the last two weeks.
Motor Sich’s (MSICH) stock remained frozen into a second month with no announcement on when circulation might be resumed.
London-listed Ferrexpo (FXPO) continued to struggle, sliding 3.5% to GBp 220 as the outlook for benchmark iron ore pricing remains cloudy, and low-liquidity MHP (MHPC) slipped 0.4% to USD 13.50 despite reporting a quite strong net profit of USD 0.85 per share for 1Q18. Distressed issue Avangardco (AVGR) did not react to an announcement that the company had a net loss of USD 0.18 per share in 1Q18. The rarely-traded issue is listed at USD 0.37 per share after having commanded an IPO price at USD 15 back in 2010.
In Warsaw trading, Kernel (KER) declined by 0.9% to PLN 52.50 after the company posted weak financial results for Jan-Mar quarter. Kernel had a net loss of USD 0.48 (PLN 1.76) per share for the period.
The hryvnia stayed in a tight range last week, closing at 26.12 UAH/USD. The National Bank kept its key refinancing rate unchanged at 17% at its most recent board meeting held on May 24. New NBU Governor Yakiv Smoliy hinted at a toughening of monetary policy and re-introduction of some capital controls if Ukraine fails to resume its IMF loan program and inflation starts to pick up.
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