EAVEX Weekly

December 02, 2015

Locally-listed stocks started off the new month lower on Tuesday (Dec 1) after the Finance Ministry admitted what most observers already knew: that Ukraine will not meet the necessary conditions in time to obtain fresh funding from the IMF before the end of this year. The UX index lost 1.1% to end at 708 points. UkrNafta (UNAF) and CentrEnergo (CEEN) continue to slide southward, dropping by 2.6% and 1.1% respectively, and recent gainer Raiffeisen Aval (BAVL) corrected by 1.4% to 8.31 kopecks. In second-division issues, UkrTelecom (UTLM) slumped 13% to a new all-time low of 9.20 kopecks. On the interbank currency market, the hryvnia inched up by 0.2% to close at bid/ask of 23.94/24.04 UAH/USD. In London trading, Ferrexpo (FXPO) shed 1.9% to GBp 25.25 and Avangard (AVGR) rose 5.4% to USD 1.46. Warsaw-listed Kernel (KER) advanced by 2.9% to approach the PLN 50 level while Astarta (AST) was little-changed just below PLN 36.