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Analytics and Market news

Wednesday, 21 December 2022

Ukraine Weekly Market Monitor

Eavex Capital

Ukrainian economic activity continued to slow down amid the deficit of electricity as a result of russian missile attacks on Ukrainian civil infrastructure. The war that moscow started remained in the hot phase. The kremlin wants Kyiv to acknowledge russia’s annexation of southern and eastern regions. Ukraine says every russian soldier must leave its territory, including Crimea, which russia annexed in 2014. Meanwhile, Ukrainian military commander warned that russia may again attempt to seize Kyiv after invading from belarus in the north, potentially around the late February anniversary of when the kremlin first ordered his troops to invade. 

On the Ukrainian Exchange, there was a rise of 1.7% for the UX index after Kernel (KER) and Krukiv Wagon (KVBZ) were included to the index basket from Dec 15. Raiffeisen Bank (BAVL) was the growth leader gaining by 15% to 26.5 kopecks per share. On the downside, CentrEnergo (CEEN) dropped by 6.6% to UAH 3.80.

Ukrainian equities listed in Warsaw were broadly lower with Astarta (AST) declining by 1.2% to PLN 20.50 and Kernel (KER) falling by 1.4% to PLN 17.50.

In London trading, natural gas producer Enwell Energy (former Regal) plunged by 25% to GBp 16.30 after the company’s majority owner Vadym Novinsky was included in the Ukrainian sanction list. There is a risk that Enwell might lose its licences. However, no precise information was unveiled by the company in its statement regarding the Novinsky situation.

On the currency front, the hryvnia was traded at 40.00 UAH/USD on the OTC cash market. Information that the country’s foreign currency reserves grew to USD 28bn for the first time since February, when the russian invasion began, was supportive for the hryvnia.

STOCKS IN THE NEWS

- Kernel Reports 40% Drop in EBITDA to USD 168mn in Jul-Sept

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, [email protected]



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