On the domestic stock market last week, Ukrainian equities were mostly higher, leading to a gain in the UX index by 2.2% to 1836 points. Local traders cheered information that that Russian troops are beginning to pull back from positions in Crimea and along the Russian border with Ukraine. Russian Defense Minister Sergey Shoigu said that military exercises involving troops along the border with Ukraine are over and that they will return to their permanent bases by May 1. Nevertheless, US diplomatic officials urged the Kremlin to do more to reduce tensions between two countries amid talk of a possible summit meeting between Presidents Biden and Putin in June.
In individual stocks, UkrNafta (UNAF) and CentrEnergo (CEEN) edged up by 0.4% and 0.6% respectively, with the former closing at UAH 231 per share. Second-tier stock Krukiv Wagon (KVBZ) rose 2.9% to UAH 18.00. On the downside, Raiffeisen Bank Aval (BAVL) shed 1.1% to 44.50 kopecks despite data released by the National Bank indicated that Raiffeisen Aval’s net profit advanced by an impressive 42% to UAH 1.47bn in 1Q21, implying 2.39 kopecks in earnings per share. However, the earning results have to be confirmed by the bank’s official report.
In Warsaw trading, Kernel (KER) inched down 0.2% to PLN 51.70 while the company posted a somewhat worse than expected operational update for the January-March quarter. Sugar maker Astarta (AST) picked up 0.8% over the week to end at PLN 38.20.
On the interbank currency market, the hryvnia inched up by 0.2% against the dollar to close at 27.94 UAH/USD. The national currency has shown a stable performance recently, giving the National Bank an opportunity to abstain from intervention on the market for the third week in a row.
POLITICS AND ECONOMICS
- Kremlin Rejects Zelenskiy Offer to Meet Putin in Donbass for Talks
- Ukraine’s Industrial Output Returns to Growth, Rising 2.1% YoY in March
STOCKS IN THE NEWS
- Kernel Sees Decline in Operational Results in Jan-Mar; Grain Exports Down 15% YoY
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