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Analytics and Market news

Monday, 22 January 2024

Ukraine Weekly Market Monitor

Eavex Capital

In the world of Wall Street, the S&P 500 index marked a new historical high, gaining 1.2% for the week. The previous peak was observed two years ago in December 2021. Notably, this time around, the driving force behind the S&P 500’s ascent was confined to just 7 technology sector stocks, constituting nearly 30% of the index structure. Both Apple and Microsoft approached the USD 3.0 trillion market capitalization milestone. Investor optimism surged following robust retail trade statistics in the U.S. and strong consumer sentiment indicators.

This week, U.S. corporations continue their fourth-quarter earnings reporting season. Tomorrow, Netflix is set to disclose its annual results, with expectations pegging the revenue for 2023 at USD 33bn and EBITDA reaching USD 21bn. Over the last 12 months, Netflix’s market capitalization has surged by 35% to USD 211bn.

Ukrainian companies trading on foreign exchanges generally exhibited positive dynamics throughout the week. Ferrexpo’s (FXPO) shares rose by 11% to GBp 80.8 (MCap of USD 613mn) after the company announced dividend payments, indicating a relatively healthy financial position. Astarta (AST) experienced an 8.6% uplift to PLN 33.00  due to rising sugar prices in international markets.

Kyiv-listed stocks remained mostly inactive. However, the indicative price for CentrEnergo (CEEN) slipped by 4.3% to UAH 4.50 per share (MCap of USD 43mn) as liquidity on the local market is very dry. Raiffeisen Bank (BAVL) has no move so far this year sitting unchanged at 32 kopecks (MCap of USD 511mn).

In the cash foreign exchange market, the hryvnia strengthened by 0.8% to 38.50 UAH/USD. On the interbank market, the dollar rate decreased from 37.70 to 37.52 UAH/USD over the week.

STOCKS IN THE NEWS

- Ferrexpo to Pay 3.3 cents Dividend per Share Implying 3.2% Dividend Yield

 

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


Eavex Capital welcomes any questions or comments you may have regarding our research products.
Please contact us by email:

Dmitry Churin, Head of Research, [email protected]



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