Ukrainian stocks were broadly lower last week as russian missiles have hit residential buildings in Kyiv. Mayor Vitali Klitschko accused Kremlin of attacking the capital to “intimidate Ukrainians” ahead of a NATO summit in Madrid from June 28 to 30, where the transatlantic alliance is expected to discuss military and financial support to Ukraine. President Volodymyr Zelenskyy, who is expected to address both the G7 and NATO gatherings, said cities as far away as Lviv, near the Polish border, had been attacked last week. There had been no major attacks on Kyiv since June 5, when russia targeted a factory on the city’s outskirts.
The Ministry of Justice of Ukraine has filed a new lawsuit against russia with the European Court of Human Rights. The lawsuit stressed that every day throughout Ukraine, the aggressor country conducts indiscriminate and disproportionate use of military forces and means against the civilian population and property of citizens, violating all relevant norms of international law.
Although the global equity market was on the rise last week, Ukrainian stocks listed in London and Warsaw remained under heavy pressure. Iron ore miner Ferrexpo (FXPO) dropped by 8.0% to GBp 140 per share and poultry producer MHP (MHPC) fell 3.9% to USD 3.94. Eastern Ukraine-based agro company Agroton (AGT) slipped by 9.5% to PLN 3.44 due to more fears of the russian shelling in Kharkiv province.
On the Ukrainian stock market trading in stocks and bonds remained suspended as the country is under martial law.
The hryvnia managed to gain by 0.3% to 35.5 UAH/USD on the OTC cash market amid the National Bank’s intervention to sell USD 933mn on the interbank market at the official exchange rate of 29.25 UAH/USD.
POLITICS AND ECONOMICS
- Russia Takes Control of Severodonetsk as G7 Promises to Continue Ukraine Support
- National Bank Publishes Assessment of Ukraine’s Financial Sector Stability
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/en/about/supportthearmedforces
The National Bank also opened fundraising account for Humanitarian Assistance to Ukrainians. Please see details under the link below:
www.bank.gov.ua/en/about/humanitarianaidtoukraine
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