Daily Market Brief

Market Comment

Ukrainian equity markets saw sideways trading Monday (Oct. 11). The UX exchange shot up from the opening bell, but lost momentum to close only 0.25% higher. Total trading volume was thin at UAH 54 mln. Zakhidenergo (ZAEN) fronted blue chips’ gains, adding 1.07% on the day. Most metals and mining stocks (ALMK +0.26%, AVDK +0.07%, AZST +0.51%, ENMZ +0.32%) rose modestly in line with the broad market advance. Yasynivka Coke (YASK -0.34%) was among the few stocks to tally a loss. Centerenergo (CEEN +0.11%), Motor Sich (MSICH +0.23%), Ukrnafta (UNAF +0.35%) and Ukrtelecom (UTLM +0.24%) added a fraction. Banks (BAVL -0.09%, USCB -0.02%, FORM +0.37%) hovered around the flat line.

Ukrainian stocks listed on international markets closed mixed. Among oil and gas stocks, Cadogan Petroleum (CAD LN) slid 2.36%, JKX Oil & Gas (JKX LN) surged 2.5% and Regal Petroleum (RPT LN) traded flat. Ferrexpo (FXPO LN) and MHP (MHPC LI) added 0.75% and 0.93% respectively. In Warsaw, Astarta (AST PW) lost 1.54%, while Kernel (KER PW) posted a solid 1.08% gain.

Activity on the Ukrainian Eurobond market was limited yesterday due to the Columbus Day holiday in the US.


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Daily Market Brief

Market Comment

Ukrainian equity markets closed lower on volatile trading Friday (Oct. 8). The UX exchange (-0.66%) dropped from the opening bell and traded sideways throughout the session. Total trading volume slid back to a moderate level of UAH 70.8 mln. All names in the index basket declined with Raiffeisen Bank Aval (BAVL -0.94%), Forum Bank (FORM -1.8%), Stirol (STIR -1.41%) and Ukrtelecom (UTLM -1.49%) leading the fall. Metals and mining stocks forfeited the previous session’s gains (ALMK -1.1%, AVDK -0.71%, AZST -0.47%, ENMZ -1.05%).

Ukrainian stocks listed on international markets traded in the doldrums. Oil and gas names were among the biggest laggards with JKX Oil & Gas (JKX LN) losing 3.15%, Regal Petroleum (RPT LN) dropping 2.82% and Cadogan Petroleum (CAD LN) sliding 2.27%. Other London-listed stocks posted modest losses: FXPO LN -0.63%, MHPC LI -0.33%. Food-processing stocks listed in Warsaw came under selling pressure: AST PW -1.65%, KER PW -0.84%.

Activity on the Ukrainian Eurobond marked centered on sovereign issues on Friday. All names on the curve were hit several times during the session, resulting in a loss in of at least a quarter point for sovereign issues. As there was no significant news regarding sovereign debt, the selloff was likely the result of end-of-the-week profit taking after a substantial price increase seen earlier. Corporates bucked the sovereign trend by closing slightly higher.


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Daily Market Brief

Market Comment

Ukrainian equity markets were buoyed by improved sentiment Wednesday (Oct. 6). The UX exchange climbed 1.02% on a high total trading volume of UAH 135 mln. Alchevsk Steel (ALMK +1.26%), GenCos (CEEN +1.39%, ZAEN +1.08%), Motor Sich (MSICH +1.07%) and Ukrtelecom (UTLM +1.76%) outperformed the market. Steel producers (AZST +0.43%, ENMZ+0.93%) and Ukrnafta (UNAF +0.99%) also contributed to the broad market advance, while banks (BAVL +0.26%, USCB -0.15%) and coke producers (AVDK +0.27%, YASK -0.28%) waivered around the flat line.

On international markets, Ukrainian shares pared the previous day’s losses. JKX Oil & Gas (JKX LN -1.05%) was the only stock to finish in negative territory. Ferrexpo (FXPO LN) was the stock of the day surging 5.31%.

Cadogan (CAD LN +1.3%) and Regal Petroleum (RPT LN +2.70%) closed significantly higher, while food processing stocks (MHPC LI +0.34%, KER PW +0.38%, AST PW +0.68%) eked out small gains.

Ukrainian Eurobonds rallied yesterday. Long-end sovereigns added almost a point, as did NAFTO. Corporates were in very good demand, closing up a quarter to a half point. Banking names also caught investors’ attention: ALFAUA traded at 103 and FUIKR at par.


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Fixed Income: FUIB requests bondholders amend Eurobond conditions