On Monday, July 22, on the background of the results of the elections to the Verkhovna Rada, the quotations of GDP-warrants (VRIs) of Ukraine increased by 3.2% – to a new historic maximum of 77.4% of the nominal value.
It is reported by agency Interfax-Ukraine with reference to the head of the analytical department of the investment company Adamant Capital Konstantin Fastovets.
“The warrants reacted most strongly: the quotations were 75%, now 77.4%. But we see that Eurobonds grew by about 1 percentage point throughout the curve. Obviously, the reaction to the outcome of the election is positive, “he said.
Fastovets added that investors are now waiting for President Vladimir Zelensky’s decisions. The first of these should be the rapid appointment of the prime minister and the formation of the government.
“Western investors have their expectations of who it may be. This is news that will affect markets, “the expert said.
In his view, the markets will also be affected by the speed and effectiveness of negotiations with the International Monetary Fund on the new program.
Commenting on the SBU’s search on ArcelorMittal Krivoy Rog, Fastovets noted that while the reaction to this situation is not visible in the markets, the further intensification of this conflict is likely to be negatively affected, as well as possible court decisions on the denationalization of PrivatBank and the lack of reaction to them from Zelensky’s side.
As for the stock market of Ukrainian companies, Ferrexpo shares on the London Stock Exchange on Monday rose by 1%, despite the loss of the head of the company Constantine Zhevago in the elections, MHP – by 0.5%, JKX – by 1.33%. Quoting shares of Regal Petroleum, whose majority owner Vadim Novinsky was re-elected to the Rada, has not changed.
On the Warsaw Stock Exchange, the dynamics of shares of Ukrainian companies is divergent: the shares of Agroton and the IMC went up by 2.07% and 0.65% respectively, while Astarta and Kernel shares fell by 2.07% and 0.4% respectively, while Ovostar did not change.
The index of the Ukrainian Stock Exchange decreased by 0.35% by 14:23, due to the 5.6% drop in the quotes of the Turboatom shares.