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. 

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Market View

  • Fixed income

    The market came under strong pressure from global macro factors on Thursday, though the sovereign curve held up relatively well (perhaps being somewhat ignored given lots of events elsewhere), closing 50c lower. In the corporate space, DTEK was heavily offered, down 2pt.

  • Equities

    The local PFTS index rose by 0.2% yesterday, with gains in CEEN (+1.0%) partially offset by a 0.3% decline in BAVL. Foreign-listed stocks were mixed, with FXPO and KER inching 0.2% and 0.4% lower, respectively. IMC rose by 0.8% while AST lost 2.2% in the agro space. As a result, the KP-Dragon index closed unchanged on the day. Accounting for mixed global markets, we expect Ukrainian equities to trade sideways today.

Daily show all results

07.12.2018
| Daily

Parliament approves amendments to 2018 budget law and medium-term budget planning

The Verkhovna Rada approved amendments to the 2018 state budget law, reallocating some spending while keeping the deficit target unchanged at UAH 81bn (2.3% of GDP). In particular, the legislature supported the government’s proposal to increase...
07.12.2018
| Daily

Politics — Ukraine completes procedures to pull out of friendship treaty with Russia

Parliament overwhelmingly endorsed a bill to terminate the 1997 friendship and cooperation treaty with Russia.
07.12.2018
| Daily

Farmak — Doubles tablet medicine production capacity

Farmak, the largest pharmaceuticals producer in Ukraine, has put into operation a new production line for tablet medicines, doubling its tablet production capacity to 3 billion pieces p.a. Investments totaled EUR 20m.

Reports show all results

04.12.2018
| Reports

Ukrainian Economy: Expedited IFI Aid Outweighs Fallout from Naval Incident

An attack by Russian naval vessels on Ukrainian combat ships in the Kerch Strait on Nov. 25 made the headlines globally and led Ukrainian authorities to impose a 30-day martial law in selected regions. The martial law, while coming as a negative...
03.12.2018
| Reports

Ukrainian Bond Weekly

As the imposition of martial law proved to have limited negative impact on the F/X market and overall economy, the market’s focus will likely shift to the implementation of prior actions required for the IMF Board to approve a $3.9bn 14-month...
03.12.2018
| Reports

Ukraine Strategy Weekly: Better Sentiment Following Selling Pressure

Although global equities recovered strongly last week (see below), Ukraine performed poorly due to disturbing local news flow (Russian naval aggression and introduction of martial law). The KP-Dragon index lost 4.0% w-o-w and the local PFTS index...
Ticker Currency Bid Ask Close 1D, %
RPT LN GBp 46.0 49.0 49.0 3.8
AGT PW PLN 3.4 3.48 3.48 1.8
IMC PW PLN 12.75 12.95 12.95 0.8
UNAF UAH _ _ _ 0.0
OVO PW PLN 110.0 114.0 114.0 0.0
Ticker Currency Bid Ask Close 1D, %
ALAGR FP EUR 0.124 0.132 0.124 -8.2
AST PW PLN 26.4 26.9 26.4 -2.2
KSG PW PLN 0.68 0.6 0.6 -1.4
JKX LN GBp 35.0 37.0 36.0 -0.8
KER PW PLN 53.1 53.2 53.2 -0.4
Ticker Currency Close 1D, % Volume
FXPO LN GBp 183.65 -0.2 741246.68
RPT LN GBp 49.0 3.8 41959.69
JKX LN GBp 36.0 -0.8 8031.92
KER PW PLN 53.2 -0.4 581.84
ALAGR FP EUR 0.124 -8.2 72.95
Name Close 1D, % 1M, % YTD, %
SPX 2684.99 -0.56 -1.95 0.43
UX _ 0.00 0.00 0.00
PFTS 575.6265 0.21 -1.67 82.70
DAX 10810.98 -3.48 -5.86 -16.31
FTSE100 6704.05 -3.15 -4.78 -12.80
MICEX 2412.31 -1.36 0.00 14.34
KP-Dragon 2,094.03 0.48 -6.62 -5.94
Name Close 1D, % 1M, % YTD, %
CDX.EM 95.24545 0.00 -0.72 -3.89
5-year UST 100.59375 0.00 0.00 0.00
10-year UST 102.0625 0.00 0.00 0.00
6M USD LIBOR 2.89113 -0.18 1.95 57.38
12M USD LIBOR 3.12575 -0.23 0.28 48.35
Ukraine 19 98.375 -0.76 -2.36 -6.31
Ukraine 32 80.25 -1.23 -5.03 -18.32
EMBI+ Ukraine 714.00 0.00 20.00 65.28
CEMBI Ukraine 711.70 0.00 28.66 105.97
Name Close 1D, % 1M, % YTD, %
UAH:USD (NBU) 27.88 0.34 0.27 0.67
UAH:EUR (NBU) 31.65 0.37 0.95 5.84
USD:GBP 1.28 -0.07 -2.78 -5.46
USD:EUR 1.14 -0.05 -0.72 -5.33
PLN:USD 3.76 -0.04 -0.52 -7.62
USDUAH 27.87 0.00 0.38 0.72
Name Close 1D, % 1M, % YTD, %
Corn ($/t) 372.0 -0.60 -0.33 6.06
WTI Crude Oil ($/bbl) 51.49 -2.65 -17.23 -14.78
Sugar ($/t) 12.65 -0.63 -2.47 -16.62
Wheat ($/t) 505.25 -1.80 -1.32 18.33
DCPI 18.84 -0.18 -3.49 7.96
Ticker Currency Bid Ask Close 1D, %
UNAF UAH 0.00 0.00 0.00 0.00
AST PW PLN 26.40 26.90 26.40 -2.22
AVGR LI USD 0.00 0.28 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 183.65 183.75 183.65 -0.16
IMC PW PLN 12.75 12.95 12.95 0.78
KER PW PLN 53.10 53.20 53.20 -0.37
MHPC LI USD 10.85 11.20 10.90 0.00
OVO PW PLN 110.00 114.00 114.00 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 0.12 0.13 0.12 -8.15
AGT PW PLN 3.40 3.48 3.48 1.75
DUPD LN GBp 11.00 14.90 12.95 -0.38
JKX LN GBp 35.00 37.00 36.00 -0.83
KSG PW PLN 0.68 0.60 0.60 -1.41
MLK PW PLN 0.22 0.22 0.22 0.00
RPT LN GBp 46.00 49.00 49.00 3.81
UKR LN GBp 3.00 4.48 3.74 -0.27
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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