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Analytics and Market news

Monday, 3 July 2023

Ukraine Weekly Market Monitor

Eavex Capital

The Ukrainian Exchange index (UX) took a hit this week, plummeting by 4.1% due to a significant 30% drop in the value of DonbasEnergo (DOEN) shares, now trading at UAH 6.87, following news of the company’s intentions to liquidate via bankruptcy proceedings. Shareholders of DonbasEnergo will have their say on the matter during the extraordinary remote meeting on July 28.

Meanwhile, CentrEnergo (CEEN) shares also experienced a decline of 16% to UAH 3.70, ignoring potentially positive news of higher electricity price caps. The regulatory decision set price caps for the ‘day ahead’ and intraday markets as follows: from 00:00 to 07:00 – 3.00 UAH/kWh; from 07:00 to 19:00 – 5.60 UAH/kWh; from 19:00 to 23:00 – 7.20 UAH/kWh. Market participants argue that raising the price caps is justified during deficit hours when Ukraine’s energy system does not import electricity and relies on emergency aid due to high import prices. Additionally, thermal generation has been operating at a loss under previous price caps for the past two years.

Among Ukrainian companies trading on foreign exchanges, Enwell Energy (formerly known as Regal Petroleum) suffered a substantial 10% drop to GBp 12.50 per share. This occurred because the company failed to publish its financial report for the previous year on time, leading to a temporary suspension of trading of its securities on the London Stock Exchange.

On a more positive note, Ferrexpo (FXPO) increased by 5.7% to GBp 89.50, while MHP (MHPC) shares remained steady at USD 3.75.

In Warsaw trading, Kernel (KER) declined by 4.4% to PLN 14.20 while Astarta (AST) gained by 3.1% to PLN 30.00 and Agroton (AGT) advanced by 3.6% to PLN 3.46.

The cash exchange rate of the US dollar rose by 0.5% during the week, reaching 37.40 UAH/USD. The current bank rates stand at 36.75 UAH/USD for buying and 37.40 UAH/USD for selling.


- CIA Director in Kyiv to Discuss War’s Endgame; Danilov Criticizes West’s “Illusions” on Russia

- Ukraine’s State and Guaranteed Debt Increases to USD 126bn in May, Compared to USD 112bn at the Start of the Year

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:


full report

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Please contact us by email:

Dmitry Churin, Head of Research, [email protected]

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