Market comment

Market comment



3 серпня 2015 года
Конкорд Капитал

Ukrainian stocks were mixed on Friday, July 31. The WIG Ukraine Index of Warsaw-traded stocks rose 0.5%, pulled up only by its two biggest components, sugar maker Astarta (AST PW +1.0%) and grain trader Kernel (KER PW, +0.4%). Other index components were falling, including dairy producer Milkiland (MLK PW, -8.8%) and farmers KSG Agro (KSG PW, -2.9%) and Agroton (AGT PW, -3.1%). In London, iron ore miner and pellet maker Ferrexpo (FXPO LN) fell 1.3%, finishing the week with a 3.6% gain. Natural gas E&P JKX Oil & Gas (JKX LN) plummeted 4.4%, on Friday to finish the week flat. Europe’s leading egg producer Avangardco (AVGR LI) lost 4.1% of its price on Friday, or 4.5% in two negative sessions. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks improved 0.5%, driven by Metinvest-related companies Azovstal (AZST +1.3%) and Avdiyivka Coke (AVDK UK, +1.8%).

On the fixed income market, rally in Ukrainian state Eurobonds (UKRAIN) was observed, driven by positive decision of the IMF board. The best performing were state notes maturing in September and November: Sep. 23, 2015 bond was up 8.8%, Sep.’20 was up 5.0%; Nov.’16, Nov.’17 and Nov.’22 were up 4.9%, 5.5% and 6.7%, respectively. Also well-performing was the longest sovereign paper (Apr’22) which advanced 5.6% on Friday. The newly restructured Eurobonds of State Export-Import Bank (Ukreximbank, EXIMUK) also were in demand to gain 3.0%-4.2% on Friday, or 3.9%-4.8% since their debut on Wednesday.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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