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Analytics and Market news

Monday, 3 October 2022

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks were mostly lower over the week following a significant drop in major stock indexes. In particular, the S&P500 lost 2.9% last week and the MSCI Emerging Market fell by 5.1%. Global markets turned lower on economic concerns surrounding inflation and the growth outlook.

In individual share movement, Raiffeisen Bank (BAVL) slipped by 5.3% to 27 kopecks as the bank said it would not pay a dividend from FY21 hefty net profit of UAH 4.9bn (7.9 kopecks per share). Meanwhile, UkrNafta (UNAF) was unchanged for the second straight week at UAH 229. On the downside, second-tier Krukiv Wagon (KVBZ) plunged by 35% to UAH 14.0 and TurboAtom (TATM) tumbled by 30% to UAH 3.00.

In Warsaw trading, sugar maker Astarta (AST) lost 12.8% to close at PLN 20.80. Kernel (KER) shed by 2.4% to PLN 16.99 bringing the stock’s year-to-date free-fall to 71%.

MHP (MHPC) added by 6.9% to USD 3.74 rebounding partly from losses seen earlier in September. Ferrexpo (FXPO) continued to suffer from the problem related to the controversial court ruling obligating the company to return 40% of Poltava Mine to previous owners. The FXPO stock dropped by 11% to GBp 122, the lowest level since the bottom reached in March 2020 after the sell-off after the COVID19 quarantine was imposed worldwide. 

The cash hryvnia exchange rate strengthened by 2.2% to 41.85 UAH/USD after the National Bank said it won’t change its official exchange rate from 36.57 UAH/USD in 4Q22. 

POLITICS AND ECONOMICS

- Zelenskiy NATO Membership Request Meets Cool Washington Response; Ukraine Gains in Northeast and South

- Ukraine’s Public Debt at USD 98bn, Implying 76% Debt/GDP Ratio

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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