Kyiv-listed stocks finished mostly lower for the week, although the PFTS index saw only a minimal loss of 0.1% to 506 points. CentrEnergo (CEEN) was once again a drag for the market, falling by 2.5% to UAH 8.53 per share. Low-liquidity Turboatom (TATM) and Krukiv Wagon (KVBZ) were both unchanged at UAH 10.60 and UAH 15.60 respectively. Raiffeisen Bank Aval (BAVL) remained a bright spot among local stocks, propping up the index with its gain of 1.8% to 34.30 kopecks.
In major economic news, UkrStat reported that the country’s industrial production slumped by 7.7% YoY in December, extending the contraction of 7.3% seen in November. For full-year 2019, the industrial output in the country declined by 1.8% YoY, failing to meet positive initial expectations at the start of last year. Nevertheless, despite disappointing results in the industrial sectors for 2019, Ukraine’s economy grew by at least 3.0% last year, driven by accelerated private consumption amid rising real wages. UkrStat reported that retail sales jumped 10.5% YoY last year.
On the London Stock Exchange, shares of poultry producer MHP (MHPC) fell by 1.3% to USD 8.72, hit by information that the EU temporarily suspended imports of poultry from Ukraine after a case of bird flu was recorded in Vinnytsa province, the location of MHP’s main facilities. The company released a statement assuring investors that all necessary measures are being taken to prevent potential outbreaks, and that MHP’s enterprises are not under threat.
Ferrexpo (FXPO) lost 6.7% to GBp 145, as investors priced in an increase in the Ukrainian iron ore production tax from 8% to 12%.
In Warsaw trading, Astarta (AST) corrected by 7.2% to PLN 17.35 after the stock had jumped by almost 20% over the preceding week. Kernel (KER) declined by 2.9% to PLN 47.30 while sporadically-traded Agroton (AGT) surged by 20% to PLN 4.14.
The hryvnia experienced a third straight week of devaluation, shedding 0.6% against the dollar to close at 24.48 UAH/USD.
POLITICS AND ECONOMICS
- Pompeo Accused of Mocking Ukraine Days Before Trip to Kyiv
- Ukraine Posts Full-Year 2019 Industrial Output Decline of 1.8%
STOCKS IN THE NEWS
- 2019’s Record Harvest Driving Strong Kernel Grain Export Numbers
full report
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