Ukrainian Agro Stocks Decline Amid Global Sell-Off
Shares of Ukrainian agricultural companies listed in Warsaw fell over the past week, weighed down by a global equity market correction and a lack of positive developments on the peace front in Ukraine.
Risk assets declined worldwide as investors reacted to recession fears in the U.S., fueled by President Trump’s aggressive trade policies.
The S&P 500 lost 2.3% for the week, bringing its year-to-date decline to 4.1%. However, sentiment improved on Friday, raising hopes for a short-term rebound.
Astarta (AST) and Kernel (KER) saw their stock prices drop 2.6% and 11%, respectively, while MHP (MHPC) managed a modest 0.7% gain.
Surprisingly, Ferrexpo (FXPO), which faced harsh legal problems, gained by 12% to GBp 83.5 per share (MCap of USD 644mn).
Hryvnia Under Pressure
The National Bank of Ukraine sold USD 545mn on the interbank market from March 10 to 14 to meet FX demand, bringing its net interventions to USD 7.5bn year-to-date.
The hryvnia stabilized at 41.44 per dollar in interbank trading, while the cash market rate rose to 41.70 per dollar.
The cash EUR/UAH rate increased by 1.2% as the euro demonstrated a broad positive momentum against other major currencies.
POLITICS AND ECONOMICS
- Ukraine’s Inflation Accelerates to 13.4% in February as Import Prices Climb
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