Weekly report December 18, 2016

18 December 2016

Week in a glance: amid rumors about Privatbank nationalization all other news seem to be less important for Ukraine, however we note still positive situation on iron ore and steel markets in China and more or less stable prices on agri-commodities in Ukrainian ports.


Largest Ukrainian companies share prices weekly dynamics
Company Currency Price Weekly change, % Monthly change, %
MHP USD 8.75 -2.3% -1.2%
Kernel PLN 65.5 0.0% 8.7%
Ferrexpo GBP 138.75 -4.0% 23.3%
Astarta PLN 53.5 0.5% 3.3%
Ovostar PLN 84.0 -3.4% -5.1%
IMC PLN 8.24 7.0% 16.1%

In Warsaw the best dynamics among Ukrainian companies during last week was shown by Industrial Milk Company, which share price grew by 7% up to PLN 8.24 (for the last two weeks growth of price made 14.4%). Share price of IMC reached its highest levels since Q3 2014.

On the other side share price of Ovostar declined during the week by 3.4%. Bird flu can have significant impact on activity of this company, both from positive (growth of eggs prices on target markets) and negative (in case of Ukrainian eggs export restrictions) sides. Share prices of Kernel (announced dividends in amount of USD 0.25 per 1 share on the last week, though it was anticipated by the market) and Astarta during last week have been almost unchanged.

As for Ukrainian companies which are traded on London Stock Exchange, MHP slided by 2.3%, Ferrexpo by 4%. In case of Ferrexpo we note usual profits fixation by investors on Friday, during last day of the week its share price decreased by 6%.


Spot iron ore price in China surged to new 26-month high on Monday (USD 83.6 per 1 ton), before finishing the week at close to USD 81/ton level. Current steel prices in China are quite close to the highest level for last two years as well, which is positive for Ukrainian steel producers like ArcelorMittal Krivoy Rog (which in Y2016 is to increase its production to the highest level since Y2007) and Metinvest, which recently reported its preliminary financial performance figures for Q3.

CME agri-commodities quotes slightly increased vs. previous week, at the moment soybeans prices (on Chicago Exchange) are by about 20% higher than a year ago, corn is just by 2% lower. For wheat dynamics is worse (-15% y-o-y), though in Ukraine situation is better. We also note that wheat export dynamics from Ukraine is quite good - since the start of current season and by December 13 it already reached 10.4M tons, by 1.3M tons more than a year ago.

Prices in Ukrainian ports have been more or less stable vs. previous week: corn at USD 152-153 per 1 ton (on CPT basis), wheat USD 153-165 per 1 ton, soybeans USD 370-375/ton, sunflower oil USD 770-775/ton.

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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,%