Weekly report March 26, 2017

26 March 2017

Amid correction of the global markets during reporting week, Ukrainian companies share prices have also been declining.


Largest Ukrainian companies share prices weekly dynamics
Company Currency Price Weekly change, % Monthly change, % Capitalization, USD M
MHP USD 9.67 3.8% 5.7% 1 022
Kernel PLN 72.7 -2.7% -8.0% 1 468
Ferrexpo GBx 166.5 -2.9% 3.5% 1 233
Astarta PLN 67.4 -2.4% 10.1% 427
Ovostar PLN 93.0 0.8% 2.2% 141
IMC PLN 9.5 1.1% -1.5% 75

Good financial results for Y2016 reported by Ferrexpo on Wednesday supported its share price as general iron ore index slumped by almost 8% during reporting week. Ferrexpo dynamics has been better vs. general index, quotations of Ukrainian company declined just by 3% (on Wednesday share price of Ferrexpo grew by 5.4%, while index decreased by 3%).

In the beginning of the week good dynamics was demonstrated by MHP, which share price grew by more than 9% up to USD 10.2 per share by Wednesday, but declined by more that 5% on Friday to USD 9.67.

In Warsaw Kernel and Astarta quotations have been in line with general index of Warsaw stock exchange WIG30, which during reporting week declined by 2.6%. Despite some correction WIG-Ukraine (index of Ukrainian companies traded at WSE) is still close to the highest level for last four years:

Iron ore and steel price dynamics since Y2005


Iron ore price index slumped by about 8% during reporting week to about USD 85/t. Its current value is close to the average for Q1 2017, so it remains at quite comfortable level for producers. Short-term volatility of the market is very high which can be largely attributable to speculation in the futures market.

Corn, wheat and soybeans prices in Chicago declined as well by 2-3% vs. previous week close, however, as usual changes of quotations in Ukrainian ports have been much more smooth. During last week corn traded at USD 153-156/t (CPT), wheat USD 160-172/t (depending on quality, due to low stocks we expect significant reduction of Ukrainian week export in coming weeks), soybeans about USD 380-385/t. Sunflower oil remains low at around USD 710/t.

Sugar price at London exchange during last period of time significantly declined, on Wednesday it reached USD 482/t the lowest value since June16. As a result local Ukrainian price is higher than international one, which, taking into account relatively low stocks due to boosting export in the first half of the season, can lead to significant decline in Ukrainian sugar export volumes.

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Company Price, USD Market Cap Change,%

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

Currency Rate Weekly change,% Annual change,%