Ukraine’s
domestic stock market saw a slight correction last week to put an end to its
six-week winning streak. Although there was no particular selling trigger,
traders pushed blue chip quotes lower on technical factors. In economic news,
MinAgro reported that Ukraine has exported 13.5mn tonnes of grain since the
beginning of the 2017/2018 agricultural year (July-June). The country’s
full-year 2017 grain harvest is expected at around 63mn tonnes, down from the
record 66mn tonnes posted in 2016.
The UX index
finished unchanged at 1255 points. Low-liquidity DonbasEnergo (DOEN) rose 1.4%
to UAH 18.00 per share as market players expect the government will get rid of
its remaining 25% in the company at an auction in December, setting a higher
price benchmark for the stock. The company posted a net loss of 18 kopecks per
share for 9M17. Motor Sich (MSICH) was in the plus column, climbing 1.0% to UAH
3065, while Raiffeisen Aval (BAVL) and CentrEnergo (CEEN) edged down by 0.4%
and 0.5% respectively. UkrNafta (UNAF) was little-changed at UAH 142 after reporting
a net loss of UAH 239mn for the third quarter.
In London,
Ferrexpo (FXPO) saw a small upward correction of 0.9% to GBp 258 but remained
in a local downward trend. MHP (MHPC) once again tested the USD 12 level for
the first time in more than three years.
On the Warsaw
Stock Exchange, Kernel (KER) disappointed, giving back most of the previous
week’s rebound on a 5.6% loss to PLN 48.60 that could not be explained by any
public news flow. Agroton (AGT) remained slightly above the PLN 4 mark amid a
week of low activity.
The hryvnia remained in its autumn
devaluation trajectory, losing 0.3% over the week and finishing barely inside
the 27 UAH/USD psychological level; we expect this level to be defended by the
NBU, as a further decline could result in speculative trouble for the currency.
POLITICS AND ECONOMICS
-
Ukraine Investigating
Manafort’s Role in Justice Ministry Embezzlement
STOCKS IN THE NEWS
- Raiffeisen
Aval Beats Expectation with 3Q EPS of 2.1 Kopecks
- UkrNafta
Reports 3Q Loss of UAH 239mn On Asset Writedowns
full report
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