The WIG-Ukraine index of Ukrainian stocks on the Warsaw Stock Exchange (WSE) continues to rise following recent news regarding progress towards peace negotiations in the Ukrainian-Russian war. After a surge of 8.04% on Monday, the index added another 6.6% on Tuesday morning, reaching 592.69 points and surpassing the pre-war level of 574.37 points.
According to WSE data, the shares of Milkiland increased by 13.86% on Tuesday, while the agribusiness holdings "Agraton" and "IMC," located near the front lines, saw gains of 9.14% and 7.30%, respectively. KSG-Agro rose by 4.22%, and the largest sugar producer in the country, "Astarta," increased by 0.91%.
The shares of Coal Energy (all of these stocks are part of the index), despite having their mines halted due to the war, experienced the largest increase, rising by 25.09%.
Additionally, the shares of the largest Ukrainian oil producer, "Kernel," which is not included in the index due to a low free-float, rose by 5.15%, pushing the company's market capitalization above $2.1 billion. This is the highest valuation the company has seen since 2011.
The stock price of MHP, the largest Ukrainian poultry producer, increased by 0.93% on the London Stock Exchange on Tuesday morning, while shares of the mining company Ferrexpo gained 0.55%.
Market participants attribute the rapid appreciation of Ukrainian stocks on the Warsaw Stock Exchange to a higher presence of private investors.
Conversely, in the eurobond market, the growth of Ukrainian securities has stalled in recent days, and since February 13, they have declined by more than 2%.
As reported, the WIG-Ukraine index plummeted from 574.37 points to 361.98 points on the first day of the war, February 24, 2024, and fell below 200 points in May 2024.