Market comment

Market comment



24 грудня 2014 года
Конкорд Капитал

Ukrainian stocks returned to their losing ways on Tuesday, Dec. 23. The WIG Ukraine Index of Warsaw-traded stocks slid 1.2%, weighed down by its biggest component, grain trader and sunflower oil maker Kernel (KER PW -2.6%). Among the illiquid shares, car battery maker WESTA (WES PW) plunged 16.7%, or 21.1% in two sessions, to its lowest price since its June 2011 IPO. Dairy firm Milkiland (MLK PW) plummeted 10.1% to its lowest price since its December 2010 IPO.



In London, Regal Petroleum (RPT LN) collapsed 12.0%, or 34.2% in four straight negative sessions, to its lowest price since its September 2002 IPO. Poultry producer MHP (MHPC LI) slid 2.7% to its lowest price since its October 2011 IPO. Egg producer Avangardco (AVGR LI) dropped 2.1%, or 23.3% in three straight losing sessions, to its lowest price since its April 2010 IPO.



Among the day’s few positive stories was iron ore miner Ferrexpo (FXPO LN), which improved 4.0%. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks fell 1.6%, weighed down by Avdiyivka Coke (AVDK UK -5.1%). A positive story has been Yenakiyeve Steel (ENMZ UK +0.7%), which has improved 22.0% in five straight positive sessions.



Ukraine’s fixed income markets enjoyed another calm day as nearly no changes happened to Ukraine’s sovereign Eurobonds yield curve. On the corporate side, top performing were the longest Eurobonds of Metinvest (METINV ’18), which gained 2.7% in the session and State Saving Bank (OSCHAD ’18), which improved 2.5%. Ukraine’s currency strengthened on Tuesday as the central bank improved its rate vs. U.S. dollar by 1.2% from its all-time low, to UAH 15.66/USD. The interbank rate of the hryvnia also improved slightly to UAH 18.3 – 18.7 per USD.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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