In the world of Ukrainian business, for the second consecutive month, a cautious evaluation of current performance and near-term growth prospects prevails. This is evidenced by the latest survey data on business activity expectations. Among specific sectors, there is a degree of optimism in trade and construction, while industrial and service sector enterprises express expectations below the neutral level. Thus, a slow economic recovery is observed due to the continued negative impact of russian aggression.
Turning to the stock market, major Ukrainian stocks trading on foreign exchanges displayed mixed dynamics last week. Ferrexpo’s market capitalization increased by 1.6% to reach USD 580mn, corresponding to a share price of GBp 78. Earlier this year, Ferrexpo’s stock price was at the level of GBp 175.
As for MHP (MHPC) the indicative price decreased by 3.5% to USD 3.62 despite the company said it increased its presence in the Middle East market by establishing the joint venture with Saudi Arabian Tanmiah Food Company.
On the Warsaw Stock Exchange, the decline in Kernel’s shares continues, directly linked to the unfriendly actions of the company’s main shareholder towards minority stakeholders. An additional share issuance by Kernel at an artificially low price equivalent to PLN 1.15 led to the dilution of minority shareholders from 20% to approximately 6%. The price of Kernel’s shares on the exchange dropped from PLN 11 to PLN 7.5 (-32%) in a week, with a 58% loss in value since the beginning of the year.
Regarding stocks listed on the Ukrainian Exchange, there were no significant changes. Indicative quotes for CentrEnergo (CEEN) stand at UAH 5.50H. The last deal for Raiffeisen Bank (BAVL) shares was at 27 kopecks.
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