The new week in Ukraine started with the massive morning attack by russian missiles. At least 11 important infrastructure facilities across the country and in Kyiv have been damaged. Strikes against multiple Ukrainian cities today, smashing civilian targets including downtown Kyiv where at least eight people were killed, brought back into focus the grim reality of war after months of easing tensions in the capital. These missile strikes marked the biggest and most widespread russian attacks in months.
Back to the stock market, there was a mixed performance for major Ukrainian equities last week as Kyiv-listed names were lower while Warsaw-traded agro companies saw a notable rebound from losses seen in September. In individual UX index components, Raiffeisen Bank (BAVL) dropped by 16% last week to 22.7 kopecks on fears that the bank’s loan portfolio will deteriorate significantly amid the ongoing war crisis. UkrNafta (UNAF) shed by 3.9% to UAH 220 per share. Meanwhile, agro exporter Kernel (KER) gained by 17% to PLN 19.90 bouncing somewhat from its decade-low level of PLN 17.00. Sugar maker Astarta (AST) grew by 10% to PLN 22.90.
On the OTC cash currency market the hryvnia gained by 1.6% last week to close at 41.20. Among positive macro-signals, there was a statement from the National Bank that the country’s foreign currency reserves stood at USD 23.9bn as of Oct 1. Also, there was an announcement that the IMF agreed to disburse an additional USD 1.3bn to Ukraine.
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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:
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