Ukraine’s Largest Capital Market Shut Even as Vote Fuels Rally - Bloomberg

Ukraine’s Largest Capital Market Shut Even as Vote Fuels Rally - Bloomberg:



"The biggest rally in Ukrainian stocks in eight weeks masks the fact that the region’s largest capital market for the war-torn country’s companies, the Warsaw Stock Exchange, is shut for issuance in the foreseeable future.



Thirteen Ukrainian companies have sold 2.9 billion zloty ($871 million) of shares in neighboring Poland since 2006, according to data compiled by Bloomberg. The index of Warsaw-listed Ukrainian stocks surged 3.3 percent yesterday, the most since Sept. 3, paring this year’s drop to 45 percent. It climbed a further 0.4 percent to a two-week high today.



Parties led by President Petro Poroshenko and Prime Minister Arseniy Yatsenyuk won a general election two days ago in a “victory for those supporting Ukraine’s westernizing agenda,” according to Standard Bank Group Ltd. While such prospects helped fuel stock gains, Ukrainian companies still face deteriorating economic conditions and must regain the trust of Warsaw investors, according to mutual fund KBC TFI SA."



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