Indicative quotes for thermal electricity producer CentrEnergo (CEEN)
surged by 39% last week to UAH 3.59 but the trade volume was negligible,
signaling that the risks of investing in CentrEnergo still outweighted
potential upside. In other Ukrainian blue-chips, Raiffeisen Bank (BAVL) gained
by 15% to 31 kopecks per share.
On the Warsaw Stock Exchange, grain exporter Kernel (KER) slipped by
6.6% to PLN 18.55 after information that the company’s main shareholder
proposed to delist Kernel and set the buy back price at just PLN 18.50. Other
agro names also finished lower with MHP (MHPC) falling by 5.6% to USD 3.35 and
Astarta (AST) declining by 1.2% to PLN 24.70.
The dollar exchange rate on the cash market decreased by another 1.2% to
38.48 UAH/USD. Since the beginning of the year, the hryvnia has strengthened by
5% on the OTC market.
The National Bank reported that Ukraine’s foreign exchange reserves fell
by 3.5% MoM to USD 28.9bn in February. The regulator conducted interventions on
the sale of a currency on the interbank for the amount of approximately USD
2.5bn last month. Meanwhile, the government of Ukraine paid USD 354mn for the
servicing and repayment of foreign currency domestic bonds in February, and
another USD 154mn was repaid to the World Bank. In addition, Ukraine paid USD
306mn to the IMF. The government’s foreign currency accounts at the National
Bank received a total of USD 2.4bn last month, including approximately
USD 2.1bn from the World Bank and USD 330mn from the placement of foreign
currency domestic bonds.
POLITICS AND ECONOMICS
-
Reports of US-Ukraine Disagreement Over Bakhmut Defense; Kupyansk Under
Pressure from Russian Shelling
STOCKS IN THE NEWS
- Kernel’s Largest Shareholder Proposes
Delisting from Warsaw Stock Exchange at Price of PLN 18.5 per Share
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]
