Market View

January 17, 2018

Equities: The local UX index lost 1.1% yesterday on profit-taking in BAVL (-1.4%), CEEN (-1.4%) and UNAF (-1.8%). Abroad, investors focused on FXPO (+0.9%), KER (+0.4%) and MHPC (unch.), pushing the broader KP-Dragon index up by 0.2%. Mixed global markets and lower European futures suggest further selling pressure in Ukrainian equities today.

Fixed income: The sovereign rallied yesterday, defying the previous anti-corruption court headlines, in an exhibit of how technicals can sometimes override fundamental developments. Continued inflows into EMs and strong performance of high yielders helped long-end Ukraine add 0.375-0.5pt yesterday. GDP warrants managed an even stronger 1.25pt gain, firmly breaking through 60. Activity was muted aside from that, with only minor changes in quasi-sovs and corporates.

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Name Close 1d, % 1m, % YTD, %
DAX 13,246 0.35 (0.50) 2.54
FTSE100 7,756 (0.17) 2.90 0.89
KP-Dragon 2,398 0.22 9.73 7.73
MICEX 2,258 (0.16) 5.78 7.02
PFTS 334.2 (0.06) 7.90 6.07
S&P500 2,776 (0.35) 3.21 3.85
UX 1,490 (0.99) 13.89 9.35
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