Market comment

Market comment



9 лютого 2015 года
Конкорд Капитал

Ukrainian equities drew strong demand in London on Friday, Feb. 6 and finished last week on the upswing. The most actively traded Ukrainian stock, iron ore miner Ferrexpo (FXPO LN), rose 1.9%, extending its win streak to five sessions at a 10.0% gain. JKX Oil & Gas (JKX LN) skyrocketed 25.0%, more than doubling in the last five sessions after a prospective buyer revealed its interest in assuming a large stake. Egg producer Avangardco (AVGR LI) bounced 4.5% after falling 4.3 % in the previous session, concluding the week at a 10.5% advance. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks increased 3.7%, extending its hot streak to four sessions at an 8.1% gain. Oil producer Ukrnafta (UNAF UK) rose 5.0%, extending its win streak to seven sessions at an 18.2% advance.



The WIG Ukraine Index of Warsaw-traded stocks slid 0.3%, finishing the week at a 4.0% slide. Its biggest component, grain trader and sunflower oil producer Kernel (KER PW), increased 1.6%, concluding the week at a 4.1% decline. Dairy producer Milkiland (MLK PW) plummeted 11.9% on Friday, finishing the week at a 10.4% decrease.



The Ukrainian currency continued devaluating on Friday. The central bank took its latest bold step in weakening the official exchange rate to UAH 23.1/USD, thereby devaluaing the hryvnia 22.1% in one day (30.1% for the entire the week). Before that, the bank increased its refinancing rate and introduced a new wave of liberalization on the ForEx market. The measures had no effect on the free ForEx market, where the hryvnia continued to reach new all-time lows. It finished the week with capitalization at UAH 25.4/USD, having devalued 21% in a week.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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