Ukrainian Stocks Demonstrate Mixed Performance
Shares of Ukrainian agro company IMC surged nearly 30% over the week. The rally was partly driven by the company’s statement that its winter crops remained in good condition despite adverse weather in February. IMC’s market capitalization reached USD 320mn, returning to levels last seen in 2021.
Meanwhile, Kernel (KER) lost 2.4%, trading at PLN 20.30 (MCap of USD 1.5bn), while MHP (MHPC) remained flat at USD 6.10 (MCap of USD 653mn).
The last official quote for Raiffeisen Bank Ukraine stood at 32 kopecks (MCap of USD 472mn). The bank announced a shareholder meeting, where one key decision will be to forgo dividend payments from 2024 profit. The lender posted a net income of UAH 4.3bn (6.9 kopecks per share) but may still opt for a payout in the future, as 50% of earnings remain undistributed, with the other half allocated to reserves.
Ferrexpo (FXPO), the iron ore miner, saw its shares tumble 24% over the week to GBp 63.40 (MCap of USD 489mn) after reporting a USD 50mn net loss for 2024. The company also reiterated that multiple major lawsuits from Ukrainian authorities pose a significant risk to its business.
Hryvnia Stands Flat
The cash exchange rate remained virtually unchanged at 41.70 UAH/USD while the euro edged lower by 0.2% against the hryvnia to 45.45 UAH/EUR.
POLITICS AND ECONOMICS
- Witkoff: Ukraine Accepting Territorial Loss is “the Central Issue” in Negotiations
STOCKS IN THE NEWS
- Ferrexpo Reports Net Loss of USD 50mn in 2024
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