Ukrainian stocks continued to show a mixed performance last week, with corporate news dominating on the market. The PFTS index declined by 1.7% to close at 554 points. DonbasEnergo (DOEN) was the biggest drag for the gauge, slumping 17% to UAH 29.00 after the company posted a huge UAH 436mn net loss for 4Q18. Nevertheless, the DOEN stock received some support from expectation that shareholders who vote against the item of so-called ‘substantial deals’ at the meeting on Apr 24 will have an option to sell their holdings at UAH 33.50 per share. On the upside, UkrNafta (UNAF) gained 7.4% to UAH 145 ahead the company’s shareholders meeting, which should approve a sale of 4.1bn cubic meters of natural gas to state energy giant NaftoGaz. The deal could potentially bring in UAH 32bn in revenue for UkrNafta, which would then be a source for repayment of the company’s UAH 12bn tax debt. Raiffeisen Bank Aval (BAVL) added 1.0% to 37.90 kopecks and TurboAtom (TATM) was unchanged at UAH 11.50 per share.
In London trading, Regal Petroleum (RPT) recovered part of its recent big losses, advancing by 4.1% to GBp 42.70. Iron ore giant Ferrexpo (FXPO) fell 5.6% to GBp 247 and MHP (MHPC) was little-changed at USD 11.00 after the company reported lower-than-expected net profit for FY18 and announced a dividend of near 75 cents per share. On the Warsaw Stock Exchange, Kernel (KER) climbed 4.0% to PLN 51.50 while Astarta (AST) lost 5.6% to PLN 28.50.
On the currency front, the hryvnia was quite volatile ahead of the first round of presidential voting. The national currency finished at 26.90 UAH/USD, strengthening by 0.5% after a notable decline of 2.5% over the preceding week.
STOCKS IN THE NEWS
- DonbasEnergo Disappoints with 4Q18 Net Loss of UAH 436mn
- MHP FY18 Profit Down 44% YoY to USD 1.21/Share full report
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