Market comment

Обзоры рынка 15.07.2015 Ukrainian equities were a mixed bag on Tuesday, July 14. The WIG Ukraine Index of Warsaw-traded stocks increased 2.8%, or 3.6% in three straight positive sessions. The advance was driven by sugar maker Astarta (AST PW), which jumped 5.8%. Outside the index, natural gas E&P Serinus Energy (SEN PW) fell 4.4%. In London, iron ore miner and pellet maker Ferrexpo (FXPO LN) dropped 4.8%, while egg producer Avangardco (AVGR LI) jumped 8.4%. JKX Oil & Gas (JKX LN) rose 4.1%, snapping a six-session cold streak during which it lost 33.6%. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks decreased 0.8%, weighed down by Avdiyivka Coke (AVDK UK -7.8%). Ukrainian Eurobonds offered a mixed performance on the eve of today’s negotiations between Ukraine’s Finance Ministry and creditors in Washington. The top gainer was Ukrzaliznytsia, whose bond (RAILUA) gained 2.6% possibly on its apparent success in restructuring its local debt. Another gainer was the sovereign Eurobond with a July 24 coupon payment (UKRAIN 07’2017). The bond gained 1.7% on Tuesday, or 4.7% in two sessions, possibly reflecting market expectations that the coupon will be paid smoothly.