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Analytics and Market news

Monday, 22 August 2022

Ukraine Weekly Market Monitor

Eavex Capital

The UX index gained by 4.5% last week on the back of a 20% advance in UkrNafta (UNAF) to UAH 290 per share. There was a piece of positive information that the Highest Court supported the company in its claim against the State Tax Service which tried to assess an additional tax of about UAH 4.3bn. Currently, there is no information regarding UkrNafta’s financial situation as companies in Ukraine delayed publication of their operating and financial results due to imposition of the martial law in the country amid the russian full-scale military aggression.  

Among other UX index components, CentrEnergo (CEEN) dropped by 18% to UAH 4.90 while Raiffeisen Bank (BAVL) added 3.0% to close at 34 kopecks.  

Warsaw-listed Ukrainian agro companies were broadly lower last week with Kernel (KER) declining by 6.9% to PLN 23.82 and Astarta (AST) decreasing by 10.3% to PLN 21.00.

In London trading, MHP (MHPC) slipped by 2.5% to USD 3.90.

On the currency front, the hryvnia devaluated by 2.1% to 40.85 UAH/USD on the OTC cash market mainly due to the overall dollar gain against other currencies. The official exchange rate remained at 36.57 UAH/USD. The National Bank reported that it had spent about USD 15bn from the country’s FX reserves on the interbank market since the start of the year amid a lack of the hard currency supply. Ukraine’s balance of payment deficit was USD 8.2bn in 1H22 as the trade deficit was estimated at USD 6.8bn in the period.  

STOCKS IN THE NEWS

- Raiffeisen Bank’s Net Profit Plunges 73% YoY to UAH 628mn in 1H22 (EPS of 1.02 kopecks)

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:

www.bank.gov.ua


full report

Eavex Capital welcomes any questions or comments you may have regarding our research products.
Please contact us by email:

Dmitry Churin, Head of Research, d.churin@eavex.com.ua



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