Within the sphere of Ukrainian company stocks, predominantly negative dynamics prevailed. Poultry producer MHP (MHPC) witnessed a 4.3% decline to USD 3.10 per share (MCap of USD 332mn). Iron ore miner Ferrexpo (FXPO) experienced a 4.6% downturn to GBp 70.9 per share (MCap of USD 530mn) despite the benchmark iron ore prices advanced by 3.4% to USD 137 per tonne last week. Since the beginning of the year, iron ore prices have risen by 23%.
On the Warsaw Stock Exchange, Agroton (AGT) shares lost 5.7%, reaching PLN 2.80 (MCap of USD 15mn). Kernel (KER) declined by 1.4% to PLN 7.20 (MCap of USD 524mn), while the Polish Financial Supervision Authority extended the proceedings on the delisting of the company for another month. Kernel’s minority shareholders filed a lawsuit against the delisting and the company’s latest additional share issue.
Kyiv-listed stocks continue to demonstrate only marginal trading volumes. Raiffeisen Bank (BAVL) remained unchanged at 30 kopecks per share (MCap of USD 493mn), and Krukiv Wagon (KVBZ) stood at UAH 14.90 (MCap of USD 46mn).
Over the week, the non-cash dollar exchange rate increased by 30 kopecks to 36.78 UAH/USD, while the cash rate dipped by 5 kopecks to 37.40 UAH/USD. Currently, trends indicate a convergence between non-cash and cash exchange rates. Overall, the situation appears to resemble a scenario of moderate and controlled hryvnia devaluation, but risks of reduced external financial assistance may materialize in moments of abrupt USD-to-UAH exchange rate spikes at the beginning of 2024.
POLITICS AND ECONOMICS
- Inflation in Ukraine Slows to Three-Year Low of 5.1% YoY in November
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]
