Kyiv-listed stocks finished mixed for a second straight week as local portfolio managers preferred to rebalance their investments ahead of the year-end. The hottest stock for the last month, UkrNafta (UNAF), dropped by 6.7% to UAH 167 on profit taking after a firm rise from UAH 140 per share. Sporadically traded UX index member TurboAtom (TATM) fell 5.4% to UAH 8.2 without a visible driver. On the upside, CentrEnergo (CEEN) advanced by 2.3% to UAH 6.75 and Raiffeisen Bank Aval (BAVL) bounced back to 41.00 kopecks, adding 2.5% for the week. The UX index shed 0.3% to close at 1510 points on Friday.
In economic news, the European Commission disbursed EUR 600mn in macrofinancial assistance to Ukraine. The loan should help the country to balance the national budget this year, as its deficit is estimated at near 8% of GDP on the back of the COVID crisis.
In London trading, JKX Oil&Gas (JKX) dropped by 14% to GBp 32.25 after Cascade Investment Fund, owned by Ukrainian politician Vitaliy Khomutynnik, sold a 20% stake in the company to Bridgewater fund. Iron ore miner Ferrexpo (FXPO) remained on the rise, adding 4.2% to GBp 273 per share. MHP (MHPC) was sluggish, declining by 5.0% to USD 5.76.
On the Warsaw Stock Exchange, Kernel (KER) was surprisingly weak, losing 3.4% to close at PLN 45.30 and once again showing itself unable to hold gains above the PLN 50 level. Eastern-Ukraine crop grower Agroton (AGT) fell 2.2% to PLN 4.40.
On the currency front, the hryvnia gained 1.1% against the dollar to 27.95 UAH/USD after the National Bank reported that it had not tapped the country’s foreign currency reserves in November, leaving them unchanged at USD 26.1bn. The current level of the NBU reserves covers 4.3 months of the country’s future imports, which is considered a healthy level.
POLITICS AND ECONOMICS
- Ukraine Delays Lockdown Until January as COVID Cases Drop Back from Highs
- Ukraine Headline Inflation Rises to 3.8% after November Data
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