Quotes for CentrEnergo (CEEN) have yet to respond to the news that the government is allocating UAH 1.5bn (USD 38mn) for the restoration of the Tripolskaya and Zmievskaya thermal power plants, which were heavily damaged by russian missile strikes on Ukraine’s critical infrastructure. CentrEnergo’s indicative stock price remains at UAH 2.68, with a market capitalization of just USD 25mn. The company’s market capitalization has fallen by 40% since the beginning of the year. The technical director of CentrEnergo stated that approximately 80% of the power plant equipment was destroyed. Debris clearing operations are ongoing and may continue until mid-summer, indicating a prolonged timeline for the plants’ restoration.
Among Ukrainian agro stocks, Kernel (KER) saw a notable 15% increase to PLN 11.7, with a market capitalization of USD 874mn. Currently, there is ongoing litigation regarding the legality of the company’s decision to issue additional shares at a price significantly below the market value, leading to substantial dilution of minority shareholders’ stakes. Furthermore, the delisting process of Kernel’s shares from the Warsaw Stock Exchange is on hold due to the stance of Poland’s financial regulator on this contentious issue.
MHP (MHPC) shares continue to trade within a narrow range at USD 3.30 (MCap of USD 360mn). Ferrexpo (FXPO) shares dropped 3.6% over the week to GBp 47.00 (MCap of USD 350mn), despite global iron ore prices rising 8.4% over the past month to USD 117 per tonne.
The US stock market is once again reaching historic highs, with the S&P 500 index hitting new records. Investors have reacted positively to the latest inflation data, which shows signs of slowing, bringing closer the anticipated Federal Reserve decision to lower the key interest rate.
POLITICS AND ECONOMICS
- Zelenskiy’s 5-Year Presidential Term Expires Today
- Ukrainian Banks Increase Net Profit by 18% YoY to UAH 40bn (USD 1.0bn) in 1Q2024
full reportThe 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
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