Daily Market Brief

Market Comment

Upbeat industrial output data and strong corporate reports out of the US boosted Ukrainian equity markets Tuesday (Aug. 17). The UX exchange advanced 1.72% on a solid trading volume of UAH 98 mln. Yasynivka Coke (YASK) stole the spotlight, jumping 6.85%. Other metals and mining stocks outperformed the market: ALMK +2.39%, AVDK +2.30%, AZST +4.49%, ENMZ +2.70%. Banks (BAVL +1.27%, USCB +2.62%) and GenCos (CEEN +1.17%, ZAEN +1.15%) benefited from the broad upward shift. Motor Sich (MSICH +0.76%) and Ukrnafta (UNAF +2.15%) gained ground, unlike Ukrtelecom that bucked the general trend to close 0.31% lower.

Ukrainian stocks listed on international markets closed mixed. Cadogan (CAD LN -4.41%) plunged into the red. Other oil and gas stocks closed higher: JKX LN +0.73, RPT LN +2.24%. Ferrexpo (FXPO LN) soared 4%. As for food processing names, Astarta (AST PW +0.08%) and Kernel (KER PW +0.32%) eked out gains, and MHP (MHPC LI -0.36%) slid.

Moderate activity was recorded Tuesday on the Ukrainian Eurobond market. Sovereigns showed steady volatility and were the most actively traded bonds on the day. Long-end issues climbed almost 1 p.p. to close virtually unchanged. NAFTO was well bid, adding about a half point. In the corporate sector, ALFAUA and DTEK were in demand and closed around 0.5 p.p. stronger.

Russian sovereign issues performed well, adding about a half point during the session. In the corporate segment, RURAIL and TNK closed higher on solid bidding, while VTB, GAZPRU and EVRAZ traded flat.

The Belorussian issue closed slightly stronger on good demand, adding about 0.25 p.p.


Fixed Income: UkrSibbank to increase share capital by 42%
Fixed Income: Interpipe to consider capital increase

Daily Market Brief

Market Comment

Strong volatility was observed on Ukrainian markets Monday (Aug 16). The UX exchange seesawed throughout the day and closed up 0.06% on a late-session surge. Total equity trading volume was thin at UAH 57 mln. Metals and mining stocks struggled into the black: ALMK +1.69%, AVDK +0.85%, AZST +0.32%, ENMZ +0.25%, YASK +0.06%. Guarded trading for GenCos (CEEN +0.28%, ZAEN +0.09%) pushed stocks slightly higher. Raiffeisen Bank Aval (BAVL +0.20%) gained a fraction, while Ukrsotsbank (USCB) dropped 0.44%. Motor Sich (MSICH) and Ukrtelecom (UTLM) came under selling pressure, losing 0.79% and 0.49% respectively. Ukrnafta (UNAF +0.44%) was the session’s volume leader with UAH 9.7 mln in trades.

Ukrainian stocks listed on international markets closed mixed. Astarta (AST PW) dropped 0.78%, Ferrexpo (FXPO LN) slid 0.59% and JKX Oil & Gas (JKX LN) shed 0.41%. Cadogan (CAD LN) and MHP (MHPC LI) finished flat. Kernel (KER PW +1.61%) was the only stock to advance.

The Ukrainian Eurobond market started the week off slow. Sovereigns and NAFTO closed unchanged. EXIMUK traded down during the session, closing 0.375 p.p. lower. Among corporate names, some action was recorded for MHPSA, which closed stronger by about a half a point.

The Russian market also recorded low activity Monday. Sovereign issues closed flat. In the corporate sector, EVRAZ, GAZPRU and VEB closed flat on limited action.

Pricing for the Belorussian sovereign issue went unchanged throughout the day.



Macro: Ukraine’s GDP grows 6% Y-o-Y
Agriculture: Landkom expects $2.8 mln in gross profit from rapeseed

Daily Market Brief

Market Comment

Ukrainian equity markets closed in the black Friday (Aug 13). The UX exchange jumped more than 25 points from the opening, pushed up by positive sentiment emanating from global markets. The exchange lost momentum by mid-session, however, and finished only 0.56% higher. Total trading volume was moderate at UAH 65 mln. Stocks closed broadly higher with Azovstal (AZST +3.07%) leading the way up. Most metals and mining stocks outperformed the market: ALMK +1.72%, AVDK +0.96%, ENMZ +1.02%, YASK +0.39%. Banks (BAVL +1.92%, USCB -0.13%) and GenCos (CEEN +0.44%, ZAEN -0.09%) showed mixed dynamics, while other blue chips including Motor Sich (MSICH +1.58%), Ukrnafta (UNAF +0.36%) and Ukrtelecom (UTLM +0.08%) followed the positive trend.

Among Ukrainian stocks listed on international exchanges, oil and gas names posted solid gains: Cadogan (CAD LN) edged up 1.49%, JKX Oil & Gas (JKX LN) added 1.75% and Regal (RPT LN) grew 3.82%. Ferrexpo (FXPO LN) dropped 0.28%. Warsaw-listed stocks closed mixed with Astarta (AST PW) rising 3.06% and Kernel (KER PW) sliding 2.52%.

Activity on the Ukrainian Eurobond market was expectedly sluggish Friday. However, Sovereigns bucked the trend, falling significantly on a flurry of trading recorded in the first half of the session. Quasi-sovereigns also lost a half a point on the day. UKRSIB was the only bond in the Ukrainian universe to add in price.



Macro: Ukraine’s government releases economic forecasts
Fixed Income: Government to increase capital of Naftogaz Ukrainy
Metals and Mining: ALMK to double production in August