Research

Welcome to our research portal. We provide comprehensive coverage on Ukrainian macroeconomics and politics as well as all major domestic industries such as metals and mining, agriculture, machine-building, fuel and energy, banking and others from both the equities and fixed income perspectives. 

Most popular content

Market View

  • Fixed income

    Bonds had a quiet day, with a few sovereign issues -25c, perhaps in sympathy with global credit markets.

  • Equities

    The KP-Dragon index dropped by 0.9% as most foreign-listed stocks came under selling pressure. MHPC fell 2.8% to $5.58, followed by AST (-1%), KYIV (-1%) and FXPO (-0.2% to GBp 57), all trading on light volumes. With volatile global markets, Ukrainian equities may trade lower again.

Daily show all results

31.10.2025
| Daily

Nominal salary growth slows to 20% y-o-y in 3Q25 as labor market conditions ease slightly

Monthly salaries paid to staff workers in Ukraine averaged UAH 26,344 ($634) in 3Q25, up 20% y-o-y on top of 24% growth in 1Q25 (2Q25 data was not released). Adjusted for headline inflation, real salaries rose by 6.2% y-o-y in 3Q25, decelerating...
31.10.2025
| Daily

Cargo transportation at 239 Mt in 9M25, slowing rate of decline to -10% y-o-y

Cargo transportation in Ukraine totaled 239 Mt in 9M25, slowing the rate of decline to -9.7% y-o-y from -11.3% in 8M25. Half of the total volume, 121 Mt or 51%, was carried by rail, followed by road vehicles (91 Mt, 38%) and pipelines (27 Mt, 11%).
30.10.2025
| Daily

Trump says discussed war in Ukraine with Xi

US President Donald Trump said he discussed ending the war in Ukraine during his meeting with Chinese leader Xi Jinping. “Ukraine came up very strongly, we talked about it for a long time. And we're both going to work together to see if we can get...

Reports show all results

28.10.2025
| Reports

Astarta Holding — Reports 3Q25 operating update

WSE-listed Astarta Holding, Ukraine’s largest sugar producer, reported a 13% q-o-q decline in 3Q25 sugar sales, to 63 kt (-19% y-o-y), priced at $535/t on average (-8.4% q-o-q, -8.0% y-o-y). Grain and oilseed sales surged 5.3x q-o-q to 212 kt...
15.10.2025
| Reports

Ukraine Macro Update: Stalemate on Peace, Momentum on Funding

The past several months have brought two macro-important developments for Ukraine. On a very positive note, the EU has begun official discussions on providing “reparation loans” to Ukraine using at least EUR 175bn ($205bn) of frozen Russian...
24.09.2025
| Reports

Metinvest: What Could Upcoming Restructuring Look Like?

Metinvest announced last week that it plans to extend its $428m 2026 bond and may also manage its $332m 2027 Eurobond. The announcement was in line with our expectations, as we recently highlighted the growing likelihood of such a move due to the...
Ticker Currency Bid Ask Close 1D, %
MHPC LI USD 5.64 5.7 5.64 1.1
AST PW PLN 46.0 46.5 46.0 0.3
KER PW PLN 19.06 19.16 19.16 0.3
FXPO LN GBp 57.2 57.3 57.2 0.2
IMC PW PLN 25.8 26.4 25.8 -1.1
Ticker Currency Bid Ask Close 1D, %
IMC PW PLN 25.8 26.4 25.8 -1.1
FXPO LN GBp 57.2 57.3 57.2 0.2
KER PW PLN 19.06 19.16 19.16 0.3
AST PW PLN 46.0 46.5 46.0 0.3
MHPC LI USD 5.64 5.7 5.64 1.1
Ticker Currency Close 1D, % Volume
Name Close 1D, % 1M, % YTD, %
SPX 6840.2 0.26 2.27 16.30
PFTS 456.38 -0.17 -1.47 -9.22
DAX 23958.3 -0.67 0.32 20.34
FTSE100 9717.25 -0.44 3.92 18.89
KP-Dragon 2,074.57 0.44 0.91 19.89
Name Close 1D, % 1M, % YTD, %
CDX.EM 98.35329 0.00 0.55 1.43
5-year UST 99.71875 0.00 0.00 0.00
10-year UST 101.375 0.00 0.00 0.00
6M USD LIBOR 4.68213 -0.17 -8.86 -16.18
12M USD LIBOR 6.04143 1.36 5.43 10.20
Ukraine A29 68.25 0.00 -0.73 -2.15
Ukraine A36 54.5 0.00 -0.46 0.00
Ukraine B36 50.5 -0.49 3.59 -14.77
EMBI+ Ukraine 1,033.00 0.00 4.45 48.72
CEMBI Ukraine 1,226.96 0.34 -1.08 12.76
Name Close 1D, % 1M, % YTD, %
UAH:USD (NBU) 41.89 0.19 -1.79 0.33
UAH:EUR (NBU) 48.41 0.22 -0.22 -9.76
USD:GBP 1.32 0.01 -2.19 5.08
USD:EUR 1.15 -0.24 -1.68 11.43
PLN:USD 3.69 -0.48 -1.41 11.99
Name Close 1D, % 1M, % YTD, %
WTI Crude Oil ($/bbl) 60.57 0.15 -2.89 -15.55
Corn ($/t) 170.9 0.46 2.97 -5.34
Wheat ($/t) 195.5 0.61 2.45 -3.49
Sugar ($/t) 318.0 0.35 -9.99 -25.13
Ticker Currency Bid Ask Close 1D, %
AST PW PLN 46.00 46.50 46.00 0.33
FXPO LN GBp 57.20 57.30 57.20 0.18
IMC PW PLN 25.80 26.40 25.80 -1.15
KER PW PLN 19.06 19.16 19.16 0.31
MHPC LI USD 5.64 5.70 5.64 1.08
Ticker Currency Bid Ask Close 1D, %
Ticker Currency Bid Ask Close 1D, %

Calendar of events

In this section we have provided you with information on upcoming events that may interest you and your partners.
Clear filters
No events found
© 2000-2024 Dragon Capital