Among the stocks of Ukrainian issuers, the quotes of agricultural company Astarta (AST) increased by 5.7% to PLN 31.70 due to the information that the main shareholder and director of the company, Viktor Ivanchyk purchased shares of Astarta on the Warsaw Stock Exchange in late June, which can be seen as a positive signal for investors.
London-listed Ukrainian iron ore producer Ferrexpo (FXPO) experienced a decline of 1.3% to GBp 88.4 last week. Since the beginning of the year, Ferrexpo has lost 44% of its value. The company reported it had produced 2.1mn tonnes of iron ore pellets in 1H23 compared to pre-war levels of 5.5mn tonnes.
In Kyiv trading, indicative quotes for CentrEnergo (CEEN) surged by 42% to UAH 5.26 per share but on very thin deal volumes. Raiffeisen Bank (BAVL) declined by 4.7% to 28.60 kopecks.
On the economic front, Ukrainian businesses have adapted to the difficult conditions of the full-scale war and have been reporting an optimistic performance outlook for three months running. The National Bank’s business activity expectations index remained above its neutral level of 50 points, standing at 50.8 in June, compared to 50.5 in May. Construction companies were the most upbeat about their performance due to the need to expand logistical routes in western regions, and to construct and repair roads. Retail companies have reported positive performance expectations for four months in a row on the back of stable consumer sentiment, an expanding supply of goods, and decelerating inflation. Respondents from construction and services companies, for the first time in a long time, declared intentions to hire more staff, while industrial and retail companies reported intentions to cut their workforce.
The currency exchange market in Ukraine was a little-volatile over the past few weeks with bid/ask quotes for cash dollars remaining at 36.90/37.20 UAH/USD.
POLITICS AND ECONOMICS
- Ukraine Foreign Reserves Reach Historically High USD 39bn in June
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]
