Market comment

Market comment



20 лютого 2015 года
Конкорд Капитал

Thursday, Feb. 19 was a selling day for Ukrainian equities. The WIG Ukraine Index of Warsaw-traded stocks fell 2.6%, or 3.3% in two sessions, weighed down by sugar maker Astarta (AST PW -5.9%), which fell 9.1% in two sessions. The biggest decliner dairy firm Milkiland (MLK PW), which plunged 7.0%, snapping a five-session win streak during which it surged 47.7%. The index’s biggest component, grain trader and sunflower oil producer Kernel (KER PW), slid 1.8%.



In London, the most actively traded Ukrainian stock, iron ore miner and pellet maker Ferrexpo (FXPO LN), decreased 0.8%. Natural gas E&P JKX Oil & Gas (JKX LN) plunged 25.3% after an investment group reported it won’t be buying out shares. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks decreased 2.9%, weighed down by Alchevsk Steel (ALMK UK -5.4%), which is in the terrorist-occupied zone, and Avdiyivka Coke (AVDK UK -5.4%), which is on the conflict line.



Some noticeable price moves were detected in longer Ukraine-related Eurobonds amid the overall poor liquidity of the fixed income market. The sovereign bond (UKRAIN) maturing Nov.’17 fell 16% in one day to its all-time low. Also correcting were the longer bonds of poultry producer MHP (MHPSA 04’20, -1.5%), as well Oschadbank (OSCHAD 03’18, -5.0%) and Ukreximbank (EXIMUK 01’18, -1.5%).



Ukraine’s central bank continued to adjust the official exchange rate of the hryvnia to its new interim reality, by 2% to UAH 27.36/USD (down 8% in one week and 42% YTD). On the free market, the U.S. dollar stabilized between UAH 27.0 and 27.5.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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