Market comment

Market comment



3 лютого 2015 года
Конкорд Капитал

Ukrainian equities kicked off the week with sharp swings on Monday, Feb. 2. The WIG Ukraine Index of Warsaw-traded stocks slid 1.7%, weighed down by its biggest component, grain trader and sunflower oil producer Kernel (KER PW -1.8%). Its other top component, sugar maker Astarta (AST PW), fell 4.0%. Outside the Index, natural gas trader Serinus Energy (SEN PW) surged 10.7%, or 13.8% in three straight positive sessions. In London, egg producer Avangardco (AVGR LI) jumped 10.5%, or 15.1% in two sessions, after it reached its lowest price since its April 2010 IPO. Real estate firm DUPD (DUPD LN) plunged 5.7% while poultry producer MHP (MHPC LI) slid 4.3%. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks fell 1.5%, weighed down by power generator Centrenergo (CEEN UK), whose 3.8% drop on Monday deepened its loss streak to six sessions at a 7.0% plunge.



Ukraine’s sovereign fixed income instruments remained broadly unchanged in Monday trading, while some big moves were observed on the corporate side. The day’s top gainers were the notes of MHP (MHPSA), who reported its full-year-operations on Monday. The yield of its shorter bond (04/15) decreased 3.0pp to 38.4% and slid 0.4pp to 20.3% on its longer bond, maturing in 2020. Most other bonds became cheaper, with the most radical change occurring in the shorter Ukreximbank notes (EXIMUK 04/15), whose YTM jumped 34pp and firmly crossed the 200% threshold to join DTEK’s shorter bond there. The 50% YTM threshold was crossed by the Eurobonds of Ukrlandfarming (UKRLAN 03/18) and Ukrainian Railways (RAILUA 05/18), with both their yields increasing 3.1pp in the day.

Источник: Конкорд Капитал

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