Local Ukrainian
equities were mixed in a largely uneventful session on Tuesday (Feb 4), although
the value of the hryvnia fell sharply to 8.90 against the dollar before the
National Bank intervened at 8.60. The slide in the currency from 8.15 a few
months ago has undercut the value of hryvnia-denominated securities by around 6%
in USD terms. Externally, the main US and European indices were supported by
bargain-hunters following Monday’s steep declines. The UX index ended the day
unchanged at 883 points. Speculative buying pushed UkrNafta higher by 4.5% and
top liquid issue Motor Sich picked up 1.0%, but heavyweight CentrEnergo lost
1.6% to UAH 4.35. In London, Ferrexpo resumed its country-risk-driven slide
after a 1-day respite, selling off by 3.2% to near GBp 147; MHP and JKX
Oil&Gas were also affected, shedding 1.4% and 2.5% respectively.
full report
