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Analytics and Market news

Monday, 22 May 2023

Ukraine Weekly Market Monitor

Eavex Capital

On the Ukrainian Exchange, the main stocks finished mixed over the week. In particular, the quotes of CentrEnergo (CEEN) increased by 6.0% to UAH 5.06, while shares of Krukiv Wagon (KVBZ) saw a decline of 8.3% to UAH 22.0. Raiffeisen Bank (BAVL) remained unchanged at 30 kopecks per share.

The shares of Kernel (KER), traded on the Warsaw Stock Exchange, fell by 11% to a new multi-year low of PLN 15.3 last week, as the delisting of these shares from the exchange is scheduled to take place in the coming month.

London-listed MHP (MHPC) rose by 10% to USD 3.75 after the company demonstrated decent financial results for the first quarter. MHP reported a net profit of USD 49mn on revenues of USD 746mn for the quarter.

The cash exchange rate of the hryvnia strengthened by 0.4% to 37.36 UAH/USD over the week. Since the beginning of the year, the hryvnia has already appreciated by 8.0% on the cash market while the official exchange rate remained fixed at 36.57 UAH/USD.

On the political front, an agreement has been reached to extend a deal that allows the grain to be exported from Ukrainian ports in the Black Sea. The grain deal had been extended until July 18. russia had previously threatened to pull out of the deal, complaining about a related agreement with the UN to facilitate shipments of russian grain and fertilizers. Ukraine and russia together account for nearly a third of global wheat exports. The countries are also among the top three global exporters of barley, maize, rapeseed oil and sunflower oil.

The benchmark global food prices had fallen by about 20% since hitting all-time highs in March 2022 amid the full-scale invasion of Ukraine.

STOCKS IN THE NEWS

- MHP Posts Net Profit of USD 49mn in 1Q23 as EBITDA Rises by 2.7x YoY to USD 117mn

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


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Please contact us by email:

Dmitry Churin, Head of Research, [email protected]



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