Market comment

Market comment



30 січня 2015 года
Конкорд Капитал

Traders were mostly selling their Ukrainian equities on Thursday, Jan. 30. In London, the most actively traded Ukrainian stock, iron ore miner Ferrexpo (FXPO LN), plunged 8.5%. Natural gas trader Regal Petroleum (RPT LN) plummeted 22.8%. The Ukrainian Exchange Index of Kyiv-traded stocks slid 0.8%, weighed down by Alchevsk Steel (ALMK UK -4.7%). The WIG Ukraine Index of Warsaw-traded stocks improved 2.4%, led by its two biggest components: grain trader Kernel (KER PW +1.9%) and sugar maker Astarta (AST PW +2.7%).



Negative sentiments on Ukraine continued to dominate the fixed income market. Ukraine’s longest Eurobond (maturing in 2023) was the day’s top decliner, losing 8.1% of its price. It crossed the 20% YTM threshold first time in its history to finish the day at a 20.2% yield. The YTM of Ukraine’s nearest sovereign bond (UKRAIN 9/15) jumped above the 100% mark for first time in its history to finish the day at 112% (+14pp). Except for MHP’s nearest bond, all corporate Eurobonds maturing in 2015 (EXIMUK 04/15, DTEKUA 04/15, METINV 05/15 and AVINPU 10/15) promised triple-digit yields. The YTM of the shorter bond of State Savings Bank of Ukraine (OSCHAD 03/16) also moved closer to the 100% YTM mark to finish the day at a 90.0% yield.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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