Daily Market Brief

Market Comment

Ukrainian equity markets began the week on the rise yesterday (Nov.15), boosted by positive news from international markets. The UX exchange (+2.03%) traded sideways in the first half of the session, but moved higher after the opening of US markets. Stocks changed hands actively bringing total trading volume to UAH 125 mln. Motor Sich (MSICH) took the spotlight for a second straight day – the stock soared 6.57%. Investors made moves for Ukrnafta (UNAF +2.21%), Ukrsotsbank (USCB +3.22%) and Yasynivka (YASK +3.99%), pushing prices higher. GenCos (CEEN +1.84%, ZAEN +0.21%) and most metal and mining stocks (ALMK +1.22%, AVDK +0.65%, AZST +0.61%) mirrored the general positive trend. Only a few stocks closed in the red, led by Raiffeisen Bank Aval (BAVL -1.32%) and trailed by Ukrtelecom (UTLM -0.22%) and Enakievo Metallurgical Plant (ENMZ -0.09%).

Ukrainian stocks listed on international markets closed mixed. Cadogan Petroleum (CAD LN) plunged 6.1%, while Regal (RPT LN) and JKX Oil & Gas (JKX LN) closed flat. Other London-listed shares finished in positive territory: Ferrexpo (FXPO LN) jumped 3.59% and MHP (MHPC LI) inched up 0.61%. In Warsaw, Astarta (AST PW) and Kernel (KER PW) posted strong gains of 2.5% and 1.17% respectively, while Agroton (AGT PW) slid 0.83%.

On fixed income -- the IMF mission to Ukraine recently announced that the country would receive the second $1.6 billion tranche of funding from its large loan agreement by month's end. This should have a positive impact on Ukrainian Eurobond prices, especially on the back of recent yield increases on the back of Ireland's developments.

Macro: Ukraine’s GDP grows 3.5% Y-o-Y
Fixed Income: Moody’s upgrades credit rating outlook for DTEK
Oil & Gas: JKX reports decline in production

Daily Market Brief

Market Comment

Ukrainian equity markets closed mixed Friday (Nov. 12) with the UX exchange adding 0.05% and PFTS declining 0.13%. The UX opened sharply lower on negative sentiment out of China, but rallied throughout the day to finish in the black. Trading volume was relatively high for a Friday at UAH 113 mln. Motor Sich (MSICH +1.99%) was the index’s heaviest contributor. Other gainers included Alchevsk Steel (ALMK +0.55%), Centerenergo (CEEN +0.11%) and Ukrnafta (UNAF +0.11%). Ukrtelecom (UTLM -1.48%) showed the weakest performance with Zakhidenergo (ZAEN -0.94%) following close behind. Banking (BAVL -0.76%, USCB -0.88%) and metals and mining shares (AVDK -0.15%, AZST -0.23%, ENMZ -0.46%, YASK -0.42%) also traded in negative territory.

Among Ukrainian stocks listed on the London Stock Exchange, only JKX Oil & Gas (+0.46%) managed to eke out a small gain. Ferrexpo (FXPO LN -4.22%) retreated after the previous day’s rally, Regal petroleum (RPT LN) lost 1.75% and MHP (MHPC LI) slid 0.61%. Stocks closed mixed on the Warsaw Stock Exchange: Agroton (AGT PW) and Kernel (KER PW) jumped 3.28% and 3.64% respectively, while Astarta (AST PW) declined 1.64%.


Politics: Ukraine’s President appoints opposition ally

Daily Market Brief

Market Comment

Ukrainian equity markets traded sideways on Thursday (Nov.11). The UX exchange hovered over the flat line most of the day to close 0.10% lower. Trading volume declined compared to the previous sessions, but remained rather high at UAH 128 mln. Zakhidenergo (ZAEN) came into the spotlight rising 4.68%, with Ukrsotsbank (USCB +1.14%) following close behind. Coke producers (AVDK +0.02%, YASK +0.24%),

Raiffeisen Bank Aval (BAVL +0.13%) and Motor Sich (MSICH +0.01%) all eked out small gains. Ukrtelecom (UTLM -1.15%) was the most prominent loser among blue chips, while steel makers (ALMK -0.75%, AZST -0.56%, ENMZ -0.65%) posted moderate losses. Centerenergo (CEEN -0.04%) and Ukrnafta (UNAF -0.09%) both lost a fraction.


Ukrainian stocks listed on international markets closed mixed. Ferrexpo showed the best performance skyrocketing 10.97%. The reason for such a remarkable gain was the approval of an expansion program for a total amount of $647 mln. Among oil and gas names JKX (JKX LN) advanced 1.12%, while Cadogan (CAD LN) and Regal Petroleum (RPT LN) lost 1.22% and 3.39% respectively. The latter lost in price after an official announcement confirming an unfavorable court decision. As for agricultural and food processing companies, Agroton (AGT PW) and Astarta (AST PW) did not trade due to an exchange holiday, while MHP (MHPC LI +2.36%) closed stronger.


Macro: Net FX inflow in Ukraine amounts to $500 mln in November
Fixed Income: Kiev to borrow UAH 500 mln from Ukreximbank
Equities: Yasynivka Coke’s parent finds coke consumers abroad