Select Ukrainian equities had a strong week driven by speculative demand. Ferrexpo (FXPO) shares jumped 16%, pushing the company’s market capitalization to USD 589mn. Astarta (AST) shares rose by 13.5%, reaching PLN 34.15 (MCap of USD 207mn).
MHP’s (MHPC) stock, however, remained unchanged at USD 4.04, with a market cap of USD 432mn.
There was news that President-elect Donald Trump talked to Putin, telling him not to escalate in Ukraine. In unofficial capacity one of Republican operatives told BBC that peace, not regaining territory from Russia, is Trump’s goal in Ukraine. Trump’s transition effort is currently vetting personnel and drafting the policies that Trump could adopt during his second term. During the election campaign, Trump said he would find a solution to end the war “within a day,” but did not explain how he would do so. Currently the risk is that after Donald Trump’s resounding election win, Ukraine could lose the continued support of its most crucial ally, the U.S., which has spent USD 108bn on military, humanitarian and economic aid to help Ukrainians since Russia’s February 2022 invasion.
In the currency market, the hryvnia’s cash rate remains stable at around UAH 41.50 per dollar, while interbank rates today stand at UAH 41.24 per dollar. Broader trends show a strengthening dollar against major currencies, which could prompt the National Bank to allow further hryvnia depreciation in the coming weeks.
POLITICS AND ECONOMICS
- Trump Jumps Into Negotiations on Ukraine after Election Win
- Ukraine’s FX Reserves Decrease by 6.0% to USD 36.6bn in October
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
