Ukraine's Eurobonds rose for a 10th day as investors anticipated billionaire Petro Poroshenko's presidential election victory will help resolve the conflict with Russia. The hryvnia and stocks rallied.
The yield on the dollar note due 2017 fell two basis points to 10.27 percent, the lowest since April 4. The hryvnia advanced 0.4 percent to 11.9 per dollar by 11:05 a.m. in Kiev.
Poroshenko received 53.8 percent of yesterday's vote with 50.1 percent of ballots counted, according to the Election Commission, and is set to gain the simple majority needed to avoid a runoff. Russian President Vladimir Putin, who doesn't recognize the government in Kiev, has pledged to work with the winner. Poroshenko said he will visit eastern regions to end fighting with separatists that hampered voting yesterday.
"We see all of this as very positive, especially given President Putin stated on Friday that he is looking to recognize and work with the new leadership," Simon Quijano-Evans, a London-based analyst at Commerzbank AG, wrote in an e-mailed report today.
Kernel Holding SA, Ukraine's biggest company traded on the Warsaw bourse, jumped as much as 8 percent to 29 zloty, the most since April 22. The Ukrainian Equities Index (UX) rose 4.5 percent to 1,228.96, the highest in two years.
To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net
To contact the editors responsible for this story: Wojciech Moskwa at wmoskwa@bloomberg.net Chris Kirkham, Alex Nicholson
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