Weekly report January 22, 2017

22 January 2017

During last week the best results among Ukrainian public companies were shown by Industrial Milk Company which share price grew by 12%. Astarta added to its market value 5.8%.

Stocks

Largest Ukrainian companies share prices weekly dynamics
Company Currency Price Weekly change, % Monthly change, % Capitalization, USD M
MHP USD 9.0 0.0% 2.9% 951
Kernel PLN 73.5 -0.5% 12.2% 1 434
Ferrexpo GBP 129.2 -1.5% -6.9% 941
Astarta PLN 63.5 5.8% 18.7% 389
Ovostar PLN 86.8 2.1% 3.3% 128
IMC PLN 9.42 12.1% 14.3% 72

Following last week growth, monthly share price gain of the largest Ukrainian sugar producer and exporter - Astarta Holding - made almost 19%, current capitalization of the company stands at USD 389M.

Speaking about IMC (+12% during last week), as it can not be related to relatively liquid stocks traded on WSE, its share price dynamics can be rather volatile even within one or two hours (which happened in the end of the last session on Friday, when price firstly dropped from PLN 9.44 per share to PLN 9.1 and then rebounded again, closing the week at PLN 9.42). Current share price of Industrial Milk Company is at its maximum since H1 2014 (it is the case for the other largest Ukrainian companies traded on WSE Astarta (the highest price since the beginning of Y2014) and Kernel (close to maximum since Y2012)).

Share price of Kernel, which demonstrated good dynamics in the beginning of Y2017, after reaching the level of PLN 75.6 in the middle of the week, in the end consolidated at about PLN 73.5 per share (small weekly change). In the nearest future the company is to realize its first Eurobonds issue. Kernel announced a roadshow, in frames of which it is to hold an investor call on Monday, January 23.

Commodities

Supported by the news about further capacity cuts, steel prices in China slightly grew during last week, supporting iron ore price as well (spot iron ore benchmark index reached its highest level since October14 on Monday (USD 83.65/t) before declined to about USD 81/t in the end of the week).

As for agricultural commodities, corn and soybeans on CME (Chicago Mercantile Exchange) added vs. previous week 3-4%, increasing to the highest levels since July16, which should support local prices in Ukrainian ports as well. During last week corn traded on CPT terms at USD 152-155/t, wheat USD 154-166/t (depending on quality), soybeans USD 375/t, sunflower oil USD 745-750/t. Sugar is relatively stable at USD 540/t (London market).

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Company Price, USD Market Cap Change,%
MHP
Kernel
Ferrexpo
Astarta
Ovostar

Type Price Weekly change,% Annual change,%
Corn CBOT
Wheat CBOT
Iron Ore
Crude Oil

Currency Rate Weekly change,% Annual change,%
USD/UAH
EUR/USD
USD/RUR