Kyiv-listed stocks ended mostly higher last week with the UX index, which is now being calculated on a once-per-day basis, climbing by 1.5% to 1557 points. In individual stocks, the biggest movement was in UkrNafta (UNAF), which gained 3.8% to UAH 108 per share. The most actively-traded name, Raiffeisen Bank Aval (BAVL), corrected further, losing 3.4% to close at 28.00 kopecks. CentrEnergo (CEEN) was essentially unchanged at UAH 14.50.
Motor Sich’s (MSICH) stock remained frozen on all platforms for nearly a third full month with no announcement on when circulation might be resumed.
In Ukrainian local business news, the National Bank unexpectedly raised its key policy rate from 17.00% to 17.50% on Jul 12. The regulator said that the tighter policy would help to bring inflation back down to the target range in 2019.
Also important was Parliament’s approval of an amendment to the anti-corruption court bill demanded by the IMF. The move brings the country closer to resuming the long-delayed existing loan program. Establishing the court, adjusting gas prices and honoring budget commitments are the conditions to unlock the next loan tranche under the IMF program, which expires next year.
In London, JKX Oil&Gas (JKX) slipped 3.2% to GBp 30.50 and its close peer company Regal Petroleum (RPT) advanced by 11.3% to GBp 21.20. Iron ore producer Ferrexpo (FXPO) failed to snap its downward move, slumping another 8.0% for the week to GBp 158 and bringing its 1-month drop to 27%. Meanwhile, low-liquidity MHP (MHPC) returned to its support level of USD 13.00 by rising 0.8%.
In Warsaw trading, top liquid issue Kernel (KER) edged down by 0.6% to close at PLN 46.70 while Agroton (AGT) climbed back to PLN 3.00 (+4.5%).
The hryvnia strengthened by 0.6% to 26.22 UAH/USD, reacting to the NBU’s decision to increase domestic interest rates.
POLITICS AND ECONOMICS
- Ukraine Inflation Sees Sharp Summer Decline to Below 10%
- Steel Output In Ukraine Increases by 1% YoY to 10.3mn tonnes in 1H18
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