Research - Adamant Capital is an independent investment company operating in the market since 2009. Our core areas of expertise include asset management, investment analytics, brokerage services, corporate finance, and factoring.

Our macroeconomic view is at your disposal

Adamant Сapital publishes a weekly fixed income and macro report to keep you abreast of the country’s latest developments. Ukraine can be a rapidly changing news story and our analysts are here to provide you with a view on the recent headlines. Our sales manager will be delighted to walk you through the effects of ongoing events on your investment portfolio.

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Latest publications:

23 October 2026

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EU puts Ukraine's 2027 funding gap at €70bn: in our view, the country risk premium depends on the EU's decision on frozen Russian assets
Ukraine sells domestic gas for export for the first time since 2022: DTEK companies get 89% above the domestic price
Industry in all regions faces power restrictions after Russian strikes of 14–17 October 2026
Technical note: Ukraine's power system ahead of winter 2026/27

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16 October 2026

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Ukrenergo completes its debt restructuring: holders of 97.5% of the bonds backed it, nearly all chose the exchange, and over half the value is paid in cash
Consumer inflation accelerated to 10.0% YoY in September, and core CPI rose to 8.8% YoY
International reserves fell 3.2% in September to $47.1bn: NBU interventions rose to $5.45bn and offset the conversion of Ukraine Support Loan (USL) funds

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9 October 2026

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MHP in 1H26: revenue rose 32% on Uvesa, but Ukrainian poultry EBITDA fell 71%
Kernel FY26: EBITDA rose 20% to $558mn, but net debt rose fivefold on the related-party acquisition of Enselco shortly before the port blockade
DTEK Oil & Gas in 1H26: stable production and $62mn operating cash flow after the Eurobond restructuring, but liquidity is concentrated within the group

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Past publications