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 sovereign curve went lower yet again, with particular weakness in the 32s (-1pt) amid soft global risk sentiment. In the corporate space, Metinvest was a huge outperformer (26s +1.5pt) without any notable headlines.

  • Equities

    Local stock trading remains barely visible, with the UX index again closing unchanged yesterday. Abroad, investors were focusing on FXPO, which moved 1.7% lower in line with its peers. Agro stocks closed mixed: KER lost 0.6% while buyers lifted AST (+2%), MHP (+2%) and IMC (+4%), albeit on small turnover. As a result, the KP-Dragon index finished the day 0.4% higher. Accounting for cautiously optimistic global markets, we may see further growth in Ukrainian names.

Daily show all results

24.05.2019
| Daily

IP accelerates to 5.2% y-o-y in April, consumption-related indicators remain strong

Industrial production (IP) growth accelerated to 5.2% y-o-y in April from 2.1% in March,  boosting growth to 0.6% y-o-y in 4M19 from -0.9% y-o-y in 1Q19. The State Statistics Service estimated seasonally adjusted IP increased 0.9% m-o-m in April...
24.05.2019
| Daily

Gov’t appoints independent supervisory boards at state banks

The government appointed independent directors and state representatives to the Supervisory Boards of three state-owned banks: Oschadbank, Ukreximbank and Privatbank. In particular, the eight-strong boards at Oschadbank and Ukreximbank include six...
24.05.2019
| Daily

Domestic oil price rises to $72.7/bbl

State-controlled oil companies (mostly Ukrnafta) sold 0.87 MMbbl of oil at their latest auction at an average price of $72.7/bbl (+7.7% vs. April auction).

Reports show all results

20.05.2019
| Reports

Ukrainian Politics: Presidential Inauguration Triggers Sweeping Reset

President Volodymyr Zelensky began his five-year term in office today in a resolute manner, announcing his decision to dissolve parliament rather than wait for scheduled elections in October. Despite legitimacy questions being raised, we expect...
20.05.2019
| Reports

Ukrainian Bond Weekly

Volodymyr Zelensky was sworn in as Ukraine’s new president today and promptly announced his decision to call early parliamentary elections. A presidential decree to dissolve parliament may come out as early as tomorrow. Despite legitimacy...
20.05.2019
| Reports

Ukraine Strategy Weekly: Turning More Positive; Watch Political Developments

Domestic equities traded lower last week both domestically and on foreign bourses. The broader KP-Dragon index lost 1.3% w-o-w and the local UX index dipped by 0.4% in USD terms (yet +0.3% in UAH). Among foreign-listed names, Ferrexpo was the only...
Ticker Currency Bid Ask Close 1D, %
JKX LN GBp 56.0 59.0 57.5 6.5
FXPO LN GBp 221.9 222.2 221.9 4.0
IMC PW PLN 14.15 14.4 14.4 1.4
KVBZ UAH _ _ _ 0.0
FARM UAH _ _ _ 0.0
Ticker Currency Bid Ask Close 1D, %
MLK PW PLN 0.45 _ 0.4334 -19.0
AGT PW PLN 3.45 3.5 3.5 -6.9
RPT LN GBp 37.6 38.2 37.9 -0.8
KER PW PLN 48.0 48.45 48.45 -0.5
AST PW PLN 24.6 24.9 24.9 -0.4
Ticker Currency Close 1D, % Volume
FXPO LN GBp 221.9 4.0 557981.1
JKX LN GBp 57.5 6.5 61608.59
RPT LN GBp 37.9 -0.8 9188.3
KER PW PLN 48.45 -0.5 199.61
MHPC LI USD 10.45 0.0 130.16
Name Close 1D, % 1M, % YTD, %
SPX 2826.06 0.14 -3.87 12.73
UX _ 0.00 0.00 0.00
PFTS 573.9016 -0.03 2.50 2.60
DAX 12011.04 0.49 -2.47 13.75
FTSE100 7277.73 0.65 -2.03 8.17
MICEX 2619.24 0.02 2.17 10.55
KP-Dragon 2,026.11 0.45 -8.46 1.49
Name Close 1D, % 1M, % YTD, %
CDX.EM 95.13438 0.09 -0.54 -0.11
5-year UST 100.6015625 0.00 0.00 0.00
10-year UST 100.484375 0.00 0.00 0.00
6M USD LIBOR 2.54863 -0.45 -2.71 -11.37
12M USD LIBOR 2.6189999999999998 -0.97 -3.89 -12.86
Ukraine 19 100.0 -0.37 -0.50 0.63
Ukraine 32 87.75 0.29 0.00 9.18
EMBI+ Ukraine 563.00 -1.23 -14.95 -26.60
CEMBI Ukraine 546.25 0.43 -9.39 -26.63
Name Close 1D, % 1M, % YTD, %
UAH:USD (NBU) 26.47 -0.53 0.45 4.58
UAH:EUR (NBU) 29.62 -0.95 0.65 7.08
USD:GBP 1.27 0.28 -1.61 -0.25
USD:EUR 1.12 0.21 0.41 -2.16
PLN:USD 3.83 0.52 0.52 -2.22
Name Close 1D, % 1M, % YTD, %
Corn ($/t) 403.5 3.72 16.58 7.80
WTI Crude Oil ($/bbl) 58.43 1.25 -11.25 28.67
Sugar ($/t) 11.69 0.78 -8.04 -3.08
Wheat ($/t) 487.0 4.09 13.24 -2.73
DCPI 17.91 -0.91 -0.65 -4.15
Ticker Currency Bid Ask Close 1D, %
UNAF UAH 0.00 0.00 0.00 0.00
AST PW PLN 24.60 24.90 24.90 -0.40
AVGR LI USD 0.00 0.26 0.25 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 221.90 222.20 221.90 4.03
IMC PW PLN 14.15 14.40 14.40 1.40
KER PW PLN 48.00 48.45 48.45 -0.51
MHPC LI USD 10.35 10.45 10.45 0.00
OVO PW PLN 100.00 101.00 100.00 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
UTLM UAH 0.00 0.00 0.00 0.00
ALAGR FP EUR 0.14 0.14 0.14 -0.36
AGT PW PLN 3.45 3.50 3.50 -6.91
DUPD LN GBp 9.00 10.80 9.90 0.00
JKX LN GBp 56.00 59.00 57.50 6.48
KSG PW PLN 1.01 1.16 1.16 0.00
MLK PW PLN 0.45 0.00 0.43 -18.99
RPT LN GBp 37.60 38.20 37.90 -0.79
UKR LN GBp 2.00 3.98 2.99 0.00
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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