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Wednesday, August 25, 2010
Ukrainian equity markets were closed yesterday (Aug. 24) as the country celebrated Independence Day.
Ukrainian stocks on international exchanges slumped, as negative sentiment pushed prices down. Ferrexpo (FXPO LN -4.45%) and Astarta (AST PW -4.43%) were the most prominent losers. Among food processing stocks, Kernel (KER PW) dropped 1.66% and MHP (MHPC LI) closed unchanged. Oil and gas names followed the negative trend: Regal (RPT LN) lost 2.96%, JKX Oil& Gas (JKX LN) slid 1.04% and Cadogan (CAD LN) hugged the flat line.
Moderate action was observed on Ukraine’s Eurobond space Tuesday. Following global negative sentiment sovereigns closed about 1 p.p. lower on the long end. Naftogaz continued to be very well bid and closed just a quarter weaker. In the corporate sector, MHP outperformed, while long-end CITKIE were under selling pressure.
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