Ukrainian stocks continued to demonstrate mixed performance amid a lack
of clear understanding of what would be the endgame in the war started by
russia a year ago. The Ukrainian military reported heavy russian shelling all
along the frontline last week and said 16 settlements had been bombarded near
the city of Bakhmut, in Donetsk, where intense battles are being fought. The
military said its forces had repelled russian attacks in the country’s Donetsk,
Kharkiv, Luhansk, and Zaporizhia regions. Ukrainian officials had been
expecting a renewed offensive in the days leading up to the first anniversary
of russia’s invasion of the country, on Feb. 24, given the penchant for
military symbolism and anniversaries in moscow.
On the Ukrainian Exchange, shares of thermal power producer CentrEnergo
(CEEN) rebounded by as much as 42% to UAH 2.95 after a steep drop seen earlier
this month. Raiffeisen Bank (BAVL) was flat at 31.50 kopecks, and DonbasEnergo
(DOEN) plunged by 31% to UAH 3.98 amid uncertainty what will be results of
the company’s bankruptcy case filed last year.
In London trading, iron ore miner Ferrexpo (FXPO) slipped by 14% to GBp
137 per share after news that the company’s Poltava Mine got its banking
account frozen due to an allegation of production tax payment avoidance. The
company will try to unblock its banking accounts in court. Meanwhile, Enwell
Energy (former Regal) gained by 5.1% to GBp 18.70, and MHP (MHPC) was
unchanged at USD 3.39.
Kernel (KER) edged up by 0.9% to PLN 18.46 while Astarta (AST) fell by
5.7% to PLN 21.70.
On the currency front, the hryvnia strengthened by 0.5% to 40.00 UAH/USD
(cash rate). The National Bank said that its foreign currency reserves
increased by 5% MoM in January to USD 29.9bn. The government received financial
aid from Ukrainian allies of USD 4.3bn last month while the National Bank’s
interventions on the interbank market to support the hryvnia amounted to USD
3.1bn in January.
POLITICS AND ECONOMICS
- Russia Seeing Only Limited Gains from
New Donbass Offensive
- Another Missile Attack on Ukrainian Energy
Infrastructure Damages Several Thermal Power Plants
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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