Ukrainian equities listed in Kyiv traded mixed over the week with quotes for most blue chips remaining in their recent corridors. The PFTS index lost 0.9% to close at 517 points on a 6.5% drop in DonbasEnergo (DOEN). The stock headed south to UAH 24.90 after the company reported a net loss of UAH 2.93 per share for 9M19. Meanwhile, UkrNafta (UNAF) showed no reaction to its latest poor earnings report, sitting at UAH 145 per share after the company posted a third-quarter net loss of UAH 382mn. On the upside, CentrEnergo (CEEN) gained 4.4% to UAH 9.92 per share which we view as a rather technical rebound amid the stock’s 27% decline since the start of the year. Raiffeisen Bank Aval (BAVL) was unchanged at 30.80 kopecks.
London-listed Ferrexpo (FXPO) edged up by 0.7% to GBp 131 after dipping as low as GBp 120 at midweek in volatile trading as the stock searches for its bottom. MHP (MHPC) rose 1.4% to USD 8.56 while natural gas producer JKX Oil&Gas (JKX) slipped by 0.7% to GBp 29.30 after strong gains over the preceding weeks.
In Warsaw trading, Astarta (AST) and Agroton (AGT) both extended their rebound. Astarta surged by 12% to PLN 19.80 and Agroton advanced by 13% to PLN 4.33 after a 47% jump in late October. Top liquid name Kernel (KER) remained sluggish, declining by 1.1% to PLN 42.00 amid statistics indicating that Ukrainian sunflower oil exports have grown by only a moderate 3.4% YoY to USD 3.0bn this season so far. India was the major importer of Ukrainian sunflower oil, accounting of 31% of deliveries.
On the interbank currency market, the hryvnia gained 1.2% to 24.53 UAH/USD. The National Bank reported that the country’s foreign currency reserves were almost unchanged on a monthly basis, standing at USD 21.4bn as of Nov 1. A steady supply of foreign currencies from Ukrainian exporters and foreign portfolio investors provided the NBU with an opportunity to replenish the reserves by USD 194mn in net forex purchases. Overall, the NBU bought foreign currencies in the equivalent amount of USD 425mn last month, while selling USD 231mn in order to prevent any volatile hryvnia appreciation by intervening at a single exchange rate.
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