Research

Welcome to our research portal. We provide comprehensive coverage on Ukrainian macroeconomics and politics as well as all major domestic industries such as metals and mining, agriculture, machine-building, fuel and energy, banking and others from both the equities and fixed income perspectives. 

Market View

  • Fixed income

    Trading yesterday was all about the Naftogaz deal (we are still awaiting an official update on the status) amid fairly challenging market conditions. The sovereign curve closed slightly lower, especially in high cash price bonds, while the 32s managed to grind 0.25pt stronger, perhaps supported by short covering. Quasi-sovereigns and corporates were under some pressure from the Naftogaz valuation, with light selling visible in that space (-0.25pt on average).

  • Equities

    The local PFTS index rose by 1.5% yesterday on support in UNAF (+3.4%), BAVL (+3.3%) and CEEN (+0.2%). Foreign-listed stocks closed mixed: FXPO dipped by 0.3%, MHPC was flat, and AST lost 2.3%. IMC was the best performer, adding 1.7% in slim volume. As a result, the broader KP-Dragon index rose by 0.5% on the day. With Asian indices and global futures trading lower, we expect a weaker opening today.

Ticker Currency Bid Ask Close 1D, %
UKR LN GBp 4.0 4.5 4.5 5.9
IMC PW PLN 12.2 12.45 12.45 3.7
KER PW PLN 52.7 52.9 52.8 2.9
AGT PW PLN 4.24 4.38 4.38 0.9
UNAF UAH _ _ _ 0.0
Ticker Currency Bid Ask Close 1D, %
RPT LN GBp 52.5 55.0 53.5 -3.6
JKX LN GBp 40.0 41.0 40.5 -2.4
FXPO LN GBp 206.0 206.8 206.2 -1.7
ALAGR FP EUR 0.184 0.19 0.1895 -0.3
UNAF UAH _ _ _ 0.0
Ticker Currency Close 1D, % Volume
FXPO LN GBp 206.2 -1.7 25546.77
RPT LN GBp 53.5 -3.6 7071.11
JKX LN GBp 40.5 -2.4 1914.62
KER PW PLN 52.8 2.9 250.27
AST PW PLN 29.5 0.0 26.05
Name Close 1D, % 1M, % YTD, %
SPX 2722.18 -0.15 -1.62 1.82
UX _ 0.00 0.00 0.00
PFTS 607.8486 0.00 9.72 92.93
DAX 11328.56 -1.25 -1.69 -12.30
FTSE100 6986.26 -0.96 -0.14 -9.13
MICEX 2351.34 -0.99 -2.15 11.45
KP-Dragon 2,163.06 0.53 -2.18 -2.84
Name Close 1D, % 1M, % YTD, %
CDX.EM 95.57825 0.00 0.25 -3.56
5-year UST 99.5234375 0.00 0.00 0.00
10-year UST 99.921875 0.00 0.00 0.00
6M USD LIBOR 2.8553800000000003 -0.09 7.66 55.43
12M USD LIBOR 3.13475 -0.30 5.78 48.78
Ukraine 19 99.75 -0.50 -0.99 -5.00
Ukraine 32 82.625 -0.90 -2.94 -15.90
EMBI+ Ukraine 628.00 2.95 10.37 45.37
CEMBI Ukraine 571.10 2.47 2.74 65.28
Name Close 1D, % 1M, % YTD, %
UAH:USD (NBU) 27.92 -0.05 0.04 0.53
UAH:EUR (NBU) 31.44 -0.02 2.82 6.54
USD:GBP 1.3 -0.12 -1.42 -4.09
USD:EUR 1.13 0.04 -2.59 -6.14
PLN:USD 3.8 -0.04 -2.62 -8.72
USDUAH 27.84 0.02 0.32 0.81
Name Close 1D, % 1M, % YTD, %
Corn ($/t) 367.25 0.20 -1.74 4.70
WTI Crude Oil ($/bbl) 55.69 -7.07 -21.94 -7.83
Sugar ($/t) 12.62 0.08 -3.44 -16.75
Wheat ($/t) 507.25 -0.10 -1.93 18.79
DCPI 19.54 -0.14 -3.73 12.27
Ticker Currency Bid Ask Close 1D, %
UNAF UAH 0.00 0.00 0.00 0.00
AST PW PLN 29.10 29.80 29.50 0.00
AVGR LI USD 0.00 0.00 0.28 0.00
BAVL UAH 0.00 0.00 0.00 0.00
CEEN UAH 0.00 0.00 0.00 0.00
FXPO LN GBp 206.00 206.80 206.20 -1.67
IMC PW PLN 12.20 12.45 12.45 3.66
KER PW PLN 52.70 52.90 52.80 2.92
MHPC LI USD 11.35 11.50 11.50 0.00
OVO PW PLN 112.00 114.00 112.00 0.00
Ticker Currency Bid Ask Close 1D, %
FARM UAH 0.00 0.00 0.00 0.00
KVBZ UAH 0.00 0.00 0.00 0.00
TATM UAH 0.00 0.00 0.00 0.00
USCB UAH 0.00 0.00 0.00 0.00
UTLM UAH 0.00 0.00 0.00 0.00
ALAGR FP EUR 0.18 0.19 0.19 -0.26
AGT PW PLN 4.24 4.38 4.38 0.92
DUPD LN GBp 11.00 14.90 12.95 0.00
JKX LN GBp 40.00 41.00 40.50 -2.41
KSG PW PLN 0.93 0.91 0.93 0.00
MLK PW PLN 0.41 0.45 0.45 0.00
RPT LN GBp 52.50 55.00 53.50 -3.60
UKR LN GBp 4.00 4.50 4.50 5.88
DOEN UAH 0.00 0.00 0.00 0.00
MSICH UAH 0.00 0.00 0.00 0.00
Ticker Currency Bid Ask Close 1D, %

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