Market comment

Market comment



29 липня 2015 года
Конкорд Капитал

Ukrainian equities were across the board on Tuesday, July 28. The WIG Ukraine Index of Warsaw-traded stocks was unchanged. Its biggest component, grain trader Kernel (KER PW), rose 1.2%, while its second-biggest component, sugar maker Astarta (AST PW), fell 1.5%, or 10.6% in four straight negative sessions. Traders sold off farming stocks that they bought up last week, namely Agroton (AGT PW), which fell 12.7%, or 16.4% in two sessions; and Milkiland (MLK PW), which dropped 9.4%, or 12.1% in two sessions. Outside the index, natural gas E&P Serinus Energy (SEN PW), declined 4.6% after rising 4.8% in the prior session. In London, iron ore miner and pellet maker Ferrexpo (FXPO LN) slid 0.4%. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks increased 1.8%, led by Alchevsk Steel (ALMK UK +6.0%).

On the fixed income market, a positive mood prevailed as most of state Eurobonds (UKRAIN) were in green. The best performing were state notes maturing in November 2017 (up 2.6%). After more than three weeks passed since restructuring of Eurobonds of State Export-Import Bank (Ukreximbank, EXIMUK) was approved by holders, new restructured notes (now maturing in Apr’22 and Jan’25) started trading on July 28. They closed their debut day at YTM of 13.8-13.9%, i.e. with a negative spread of over 500 bps to sovereign yield curve.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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