Market comment

Investors bottom-fished for Ukrainian equities during the first sleepy trading days of January. The WIG Ukraine Index of Warsaw-traded stocks gained 4.0% in trading on Friday, Jan. 9, extending its hot streak to three sessions at a 12.9% advance. The index finished December at a 1.7% loss. Its biggest component, grain trader and sunflower oil maker Kernel (KER PW), slid 1.5% on Friday. It concluded December at a 2.4% drop. Sugar maker Astarta (AST PW) jumped 11.0% on Friday, extending its hot streak to three sessions at a 25.9% gain. It concluded December at a 3.1% increase. Farmer Agroton (AGT PW) advanced 10.1% on Friday, or 11.8% in two sessions. It finished December at a 0.1% decrease.



In London, iron ore miner and pellet maker Ferrexpo (FXPO LN) declined 2.6% on Friday, Jan. 9. It concluded December at a 24.3% plunge owing to falling iron prices and taxes imposed by the Ukrainian government. Bank of Georgia (BGEO LN) dropped 2.3% on Friday, or 3.7% in two sessions. It finished December at a 4.2% loss. The Ukrainian Exchange was closed on Friday. The UX Index concluded December at a 6.3% gain. Its biggest movers in December were engine maker Motor Sich (MSICH UK), which surged 19.0%, and Alchevsk Steel (ALMK UK), which plummeted 15.7%.



During the full year of 2014, the WIG Ukraine Index of Warsaw-traded stocks plunged 50.5%. Its biggest decliners were KSG Agro (KSG PW -89.7%), dairy producer Milkiland (MLK PW -88.2%), and KDM Shipping (KDM PW -87.1%). Its largest component, Kernel (KER PW), finished the year at a 25.2% loss. In London, Ferrexpo (FXPO LN) finished the year at a 72.9% plunge. Its loss was outdone by JKX Oil & Gas (JKX LN -83.2%), egg producer Avangardco (AVGR LI -82.6%), and Regal Petroleum (RPT LN -76.0%).

The UX Index concluded 2014 at a 13.5% advance. Its biggest movers were oil producer Ukrnafta (UNAF UK +87.2%), which is controlled by the influential oligarch Igor Kolomoisky, and Alchevsk Steel (ALMK UK -62.6%), whose production was halted because of the Donbas war.

Источник: Конкорд Капитал