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Analytics and Market news

Monday, 19 September 2022

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks finished mixed last week while the UX index showed a clear gain of 3.1% to close at 1501 points.

UkrNafta (UNAF) advanced by 6.5% to UAH 219 per share and CentrEnergo (CEEN) added by 4.4% to UAH 4.70 despite the company’s biggest power plant Vuglegirska TPP remaining on the russian occupied territory in Donetsk province. Raiffeisen Bank (BAVL) rose by 3.3% to 31 kopecks after data from the National Bank indicated that Raiffeisen pocketed a solid profit from the revaluation of its assets after the official hryvnia exchange rate was devaluated to 36.57 UAH/USD in late July.

On the downside, DonbasEnergo (DOEN) fell 12.3% to UAH 10.61 and second-tier Krukiv Wagon (KVBZ) dropped by 12.2% to UAH 21.50.

On the London Stock Exchange, Ukrainian poultry maker MHP (MHPC) declined by 3.4% to USD 3.75 ignoring the company’s better-than-expected financial results for 2Q22. Iron ore miner Ferrexpo (FXPO) lost 2.8% over the week to close at GBp 152. In contrast, Enwell Energy (former Regal) climbed by 4.8% to GBp 23.20.

Warsaw-listed Agroton (AGT) surged by 47% from PLN 3.26 to PLN 4.79 on hopes that the Ukrainian army’s advance would liberate Agroton’s farmland located in Lugansk province.

In major economic news, the Finance Ministry unveiled a draft national budget for 2023. The budget deficit for the next year was estimated at 20% of GDP and it is expected to be covered by borrowings of UAH 1,687bn (USD 46bn at the current official UAH/USD rate).

The hryvnia edged down by 1.1% on the OTC cash market to 42.10 UAH/USD, while the official exchange rate has been frozen at 36.57 UAH/USD since Jul 21.

STOCKS IN THE NEWS

- MHP Posts Net Loss of USD 89mn in 1H22 after Earning USD 20mn in Net Profit in 2Q22

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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