Ukrainian stocks had a mixed performance over the week. However, some
optimism in the domestic market was caused by a series of high-profile
anti-corruption cases. In particular, the management of the Customs Service of
Ukraine was dismissed on suspicion of corruption. In a general sense, the
active fight against corruption of high-ranking officials should convince
Ukraine’s international partners to provide the country with more financial
resources to overcome the problems caused by russian military aggression.
Negotiations are currently underway with the IMF on a new credit program for a
period of three to four years, the volume of which will be from USD 14bn to USD
16bn, of which Ukraine can receive from USD 5bn to USD 7bn in the first year.
Among the heavyweight stocks of the Ukrainian Exchange index, the
biggest gain was in CentrEnergo (CEEN). The CEEN stock rebounded by 17% to UAH
2.00 after a very significant drop from the level of UAH 4.00 at the
beginning of the year. There was also a noticeable increase of 16% to UAH 14.2
in Krukiv Wagon (KVBZ). Over the past month, quotes for the KVBZ have risen by
almost 30%, which we attributed to the expectation of certain changes in the
structure of the company’s owners, as 25% of the shares still belong to a beneficiary
In London trading, MHP (MHPC) shares added 2.4% to USD 3.39 last week,
while Ferrexpo (FXPO) fell 5.5% to GBp 160.
Warsaw-listed Kernel (KER) dropped by 5.2% to PLN 18.30 after reports
that grin exports slowed from Ukraine in January. Inspections of ships carrying
Ukrainian grain and other food exports have slowed to half their peak rate
under a wartime agreement brokered by the United Nations. Some officials from
the United States and Ukraine accuse russia of deliberately slowing inspections,
which a russian official denied.
The hryvnia exchange rate on the cash market strengthened by 0.7% to UAH
STOCKS IN THE NEWS
- Raiffeisen Bank Ukraine Reports Net
Profit of UAH 1.5bn (2.4 kopecks per share) for 2022, Which Is Almost Three
Times Less Than for 2021
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
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