News that the IMF monitoring mission for Ukraine’s current loan program ended without a positive result was unable to stop the early-2021 rally in Kyiv-listed stocks. The UX index added 1.4% last week to close at 1789 points, with the gain for the gauge reaching 10% since the start of the year.
The biggest advance was seen in UkrNafta (UNAF), which shot up 12% to UAH 224 per share on expectations that the company will report a massive profit for 4Q20 after getting huge payments from its parent NaftoGaz. Raiffeisen Bank Aval (BAVL) rose 3.3% to 47.00 kopecks despite the bank’s net profit of 6.63 kopecks per share for FY20 coming in about 10% lower than expected. CentrEnergo (CEEN) slowed its increase to 0.6% after rising 22% YtD, ending at UAH 8.80. In second division stocks, Krukiv Wagon (KVBZ) grew by 5.3% to UAH 20 on the nose.
On the London Stock Exchange, Ferrexpo (FXPO) demonstrated a firm rebound after its notable correction earlier this month. The FXPO stock surged by 7.7% back to GBp 320, after the benchmark iron ore price dropped from USD 170 per tonne to USD 150 and then bounced back to USD 160 a in 2-week period. MHP (MHPC) remained sluggish, slipping 2.3% to USD 5.92.
In Warsaw trading, Kernel (KER) edged down by 0.9% to PLN 56.00 while Astarta (AST) rallied further by 7.6% to PLN 46.70. The AST stock has been a star performer, gaining 78% in the past 6 weeks on better prospects for the company’s primary sugar market.
On the currency front, the hryvnia weakened by 0.6% to 27.90 UAH/USD. The National Bank said it purchased USD 110mn to increase its forex reserves during the week.
POLITICS AND ECONOMICS
- Vitrenko Defends Gas Pricing as Ukraine Heads for Coldest Month Since 2012
- Ukraine Headline Inflation Back up to 6% Amid Rising Commodity, Energy Prices
STOCKS IN THE NEWS
- Raiffeisen Aval Posts Solid USD 150mn Profit for FY20 (6.6 Kopecks per Share)
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