Ukrainian President Volodymyr Zelenskiy met with UK Prime Minister Boris Johnson who made a surprise visit to Kyiv last week. Among other things, Johnson’s trip included a pledge from London of USD 130mn commitment to delivering high-grade military equipment for Ukraine’s defense. The UK leader also confirmed an additional USD 500mn in World Bank lending, taking Britain’s total loan guarantee up to USD 1 bn for Ukraine.
Boris Johnson, President of the European Commission Ursula von der Leyen, and Austria’s Chancellor Karl Nehammer made separate visits to Zelensky last week, the latest in a string of leaders to travel to the country during the ongoing Russian invasion.
On the trading front, Ukraine continues promoting to invest in a special domestic government bond aimed to support the national budget during the war. The special 1-year UAH-denominated bond has a yield of 11% and the special 8-month EUR-denominated bond placed last Tuesday has a yield of 2.5%. Local and foreign investors can purchase the special Ukrainian bond through licensed brokers or banks.
On the Warsaw Stock Exchange, there was a decline in quotes for most of the Ukrainian agro stocks. In particular, grain and sunflower oil exporter Kernel (KER) shed 3.3% to PLN 32.60 and Agroton (AGT) dropped by 5.6% to PLN 5.38 per share.
London-listed MHP (MHPC) slipped by 6.0% to USD 4.23. Ferrexpo (FXPO) fell 4.9% to GBp 186 despite the company reporting no output decrease in 1Q22 producing 2.7mn tonnes of high-grade iron ore pellets in the period. However, Ferrexpo admitted that logistics pathways to Europe via rail and barge remain open t, while activities at the Black Sea port of Pivdennyi continue to be suspended. The company’s net cash position was USD 159mn as of 31 March 2022.
POLITICS AND ECONOMICS
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The National Bank of Ukraine has opened a special fundraising account to support the Armed Forces of Ukraine. Please find more at the National Bank’s official website under the link below:
The National Bank also opened a fundraising account for Humanitarian Assistance to Ukrainians. Please see details under the link below:
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