Daily Market Brief

Market Comment

Ukrainian equity markets showed mixed dynamics Monday (Aug. 30). The UX exchange opened strong, but failed to keep gains and closed only 0.07% higher. Total trading volume was moderate at UAH 73 mln. An impressive gain for Avdiivka Coke (AVDK +4.02%) was offset by a weak performance by Yasynivka Coke (YASK -4.18%). Steel producers posted mild losses: ALMK -0.35%, AZST -0.74%, ENMZ -1.10%. Centerenergo (CEEN -0.67%) and Ukrtelecom (UTLM -0.38%) came under selling pressure, while Motor Sich (MSICH +0.31%), Ukrnafta (UNAF +1.36%) and Ukrsotsbank (USCB +0.72%) enjoyed modest demand.

The London Stock Exchange was closed yesterday due to a banking holiday. Ukrainian food processing stocks listed in Warsaw advanced. Astarta (AST PW) soared 2.14% and Kernel (KER PW) inched up 0.41%.


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Daily Market Brief

Market Comment

Ukrainian equity markets reversed to gains Thursday (Aug. 26), pulled up by positive news from global markets. The UX exchange traded in the black throughout the session, adding 0.97% on a moderate trading volume of UAH 78 mln. Blue chips were on a roll led by Motor Sich (MSICH +2.43). Metals and mining stocks kept the pace (ALMK +1.42%, AVDK +1.45%, AZST +0.92%, ENMZ +1.24%, YASK +2.34%). Banks gained ground with Raiffeisen Bank Aval (BAVL) adding 1.02% and Ukrsotsbank (USCB) rising 1.5%. Centerenergo (CEEN +0.84%), Ukrnafta (UNAF +0.79%) and Ukrtelecom (UTLM +1.08%) also got a lift from the market’s broad advance, while Zakhidenergo (ZAEN -0.08%) was the only blue chip to close in the red.

Ukrainian stocks listed on international exchanges closed mixed. Astarta (AST PW +3.54%) was the stock of the day as sound financials attracted investors. Kernel (KER PW +2.44%), Cadogan (CAD LN +1.52%) and JKX Oil & Gas (JKX LN +0.97%) were also in demand, while Regal (RPT LN -3.03%) came under selling pressure and Ferrexpo (FXPO LN -0.07%) dipped slightly.

Moderate action was observed on the Ukrainian Eurobond space Thursday. Sovereigns and NAFTO traded marginally stronger. The corporate sector saw two-way flows with better bidding for MHPSA and PRBANK. Bidders also prevailed for municipal issues and ALFAUA, which closed without any price change on the day.

The Russian market traded generally flat during the session. The Belorussian sovereign was under selling pressure, trading more than 1 p.p. lower.


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Daily Market Brief

Market Comment

Ukrainian equity markets retreated Wednesday (Aug. 25) as disappointing reports out of the U.S. raised worries of another global economic slowdown. The UX exchange slumped 3.15% on a solid trading volume of UAH 96 mln. Centerenergo (CEEN -4.38%) and Ukrtelecom (UTLM -4.37%) took the hardest hits. Steel names were also slammed: ALMK -4.13%, AZST -3.60%, ENMZ -3.44%. Coke producers (AVDK -1.87%, YASK -1.86%) and banks (BAVL -2.54%, USCB -3.16%) waded into the red followed by Motor Sich (MSICH -2.09%), Ukrnafta (UNAF -1.92%) and Zakhidenergo (ZAEN -3.06%).

Ukrainian stocks listed on international markets traded in the doldrums yesterday. Regal Petroleum (RPT LN) was the only exception, edging up 0.76%. Other oil and gas names posted moderate losses: JKX LN -2.04%, CAD LN -1.49%. Food processing stocks weakened (AST PW -2%, KER PW -1.05%, MHPC LI -1.29%), while Ferrexpo turned in the worst performance, dropping 4.07%.

Sellers dominated on the Ukrainian Eurobond market Wednesday. Sovereigns lost another half a point during the session. Naftogaz was down about 1.25 p.p., but managed to recover some losses by the close. The corporate sector was less active with some trading recorded for ALFAUA and MHP, both closed weaker.

The Russian market underperformed as well, and BELARUS closed about 1 p.p. lower.



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