The second Monday in a row was marketed by a missile attack on Kyiv. What is being targeted is hard to determine. The mayor’s office says residential and non-residential buildings have been hit. Railway officials say explosions were seen close to Kyiv’s main station. Despite the warnings, the streets are far from deserted. Between the first and second set of strikes, plenty of people seemed to be going about their Monday morning business. The explosions come a week after a wave of deadly russian missile strikes across Ukraine.
Kyiv-listed equities were down across the board last week with the UX index dropping by 4.7% to close at 1407 points on Friday (Oct 14). In individual movers, UkrNafta (UNAF) fell by 10% to UAH 198 per share and Raiffeisen Bank (BAVL) slipped by 5.3% to 21.5 kopecks.
In Warsaw trading Ukrainian agro companies were under pressure both from a broad downward momentum on the market and fears that the current Grain Deal allowing to export harvest from the Black Sea port could be terminated by russians in November. Grain and sunflower oil producer Kernel (KER) lost 5.1% last week ending at PLN 18.90. Agroton (AGT) declined by 1.8% to PLN 4.26.
On the London Stock Exchange, iron ore miner Ferrexpo (FXPO) shed by 9.5% to GBp 114 after the company informed it was forced to suspend production as a result of electricity infrastructure damages by russian attack last week. On the upside, MHP (MHPC) climbed by 2.8% to USD 3.71 per share.
The hryvnia strengthened by 1% over the week to 40.80 UAH/USD on the OTC cash market. Meanwhile, the National Bank continued to sell the hard currency from the reserves on the interbank market spending USD 605mn on interventions from 10 to 14 October.
POLITICS AND ECONOMICS
- War’s Focus Shifts Away from Front Lines as Strikes Hit Kyiv, Donetsk, Belgorod
- Ukraine’s Inflation Rises to 24.6% After Prices Increasing by 1.9% in September
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