Market comment

Market comment



28 січня 2015 года
Конкорд Капитал

Investors continued shedding their Ukrainian stocks on Tuesday, Jan. 27. In London, the most actively traded Ukrainian stock, iron ore miner Ferrexpo (FXPO LN), fell 3.5%, extending its loss streak to three sessions at an 11.6% drop. Natural gas explorer and trader Regal Petroleum (RPT LN) also fell 3.5%, or 11.8% in two sessions.



The Ukrainian Exchange (UX) Index of Kyiv-traded stocks slid 1.1%, deepening its loss streak to five sessions at a 4.4% drop. Its biggest decliner has been Avdiyivka Coke (AVDK UK), which plunged 14.2% to its lowest price since its April 2009 UX debut. Another Donbas enterprise threatened by terrorists, steel maker Azovstal (AZST UK), fell 3.4%, deepening its loss streak to five sessions at an 11.3% drop.



The WIG Ukraine Index of Warsaw-traded stocks rose 0.6%, led by its biggest component, grain trader and sunflower oil producer Kernel (KER PW +0.8%). Dairy firm Milkiland (MLK PW) jumped 8.4% while car battery maker WESTA (WES PW) plunged 21.4% to its lowest price since its June 2011 IPO.



On the fixed income market, some price movements were noticed on the corporate side, while the sovereign curve remained broadly unchanged. The yield of the nearest Eurobond of Ukreximbank (EXIMUK 04/15) increased 9pp in the day to its new record level of 162%. The notes of egg producer Avangardco (AVINPU 10/15) also demonstrated their weakness as their yield increased 10pp to 123%.



Ukraine’s central bank set its lowest official hryvnia/U.S. dollar exchange rate on record on Tuesday, UAH 15.8995/USD, which was still far from the market rate during the day, which was UAH/USD 20.8-21.5.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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