Quotes for major Kyiv-listed stocks rebounded last week, leading to the UX index’s gain of 3.3% to 1840 points. Oil & gas producer UkrNafta (UNAF) advanced by 9.5% to UAH 263 per share after natural gas prices hit new records in Europe, touching all-time highs of USD 1200 per 1,000 cubic meters on the futures market, a stunning leap of around 5x for the year. Demand for gas has soared amid low inventories and competition for supplies from Asian buyers. China is seeking more liquefied natural gas (LNG) cargoes as its own winter season starts. Other Ukrainian based natural gas producers were also on the rise, with London-listed Enwell Energy (former Regal) adding 6.7% to GBp 38.80 and JKX Oil&Gas (JKX) jumping by 9.4% to GBp 49.00 per share. Meanwhile, the country’s state gas pipeline operator UkrTransGaz said that there are sufficient gas stocks in its underground storage facilities to ensure a stable 2021-2022 heating season. As of Oct 1, Ukraine has accumulated 18.7bn cubic meters of gas (cu-m) in underground storage facilities. For comparison, at the beginning of the heating seasons from 2011 to 2019, the average injection level of gas storage facilities was 17.9bn cu-m, while the minimum level was at 14.5bn cu-m in 2016.
Among other Kyiv-listed equities, CentrEnergo (CEEN) edged up by 0.6% to UAH 9.30 while Raiffeisen Bank Aval (BAVL) slipped by 2.3% to 43.00 kopecks.
In Warsaw trading, Kernel (KER) inched down by 0.3% to PLN 60.00 ahead of the company’s earnings report for full-year 2021 (which ended in June). Small-cap Agroton (AGT) fell 4.8% to PLN 7.50.
On the interbank currency market, the hryvnia surprisingly gained by 0.4% against the dollar to close at 26.63 UAH/USD. We assume that solid grain exports this season are helping the country to increase foreign currency inflows.
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