Ukrainian stocks surge on Warsaw exchange after Trump-Putin conversation

The WIG-Ukraine index of Ukrainian stocks on the Warsaw Stock Exchange (WSE) has risen by 5.43% to 507.91 points on the morning of 17 October, following the previous evening's announcement of an upcoming meeting between US President Donald Trump and Kremlin leader Vladimir Putin in Budapest.

Source: Interfax-Ukraine, a Ukrainian news agency, citing WSE data

Details: Meanwhile, the main WIG20 index on the exchange has fallen by 1.81%.

By 12:45 local time, shares in Astarta, Ukraine's largest sugar producer, had increased by 3.45%. Milkiland had gained 13.26%, while agricultural holding companies IMC, Agromton and KSG Agro had seen rises of 5.91%, 4.65% and 2.68% respectively.

Shares in Kernel, Ukraine's largest sunflower oil producer, which are not included in the index due to a small free float, have added 2.47%. Coal Energy, whose mines have been shut down due to the war, has surged by 17.02%.

On the London Stock Exchange (LSE), where retail investors have less influence than on the WSE, shares in mining company Ferrexpo have grown by 10.08%. Meanwhile, MHP, Ukraine's leading poultry producer, has seen its stock decline by 3.06% after a brief rise at the start of trading.

As for eurobonds, trading on the Frankfurt Stock Exchange showed mixed movement after several days of gains driven by anticipation of an upcoming meeting between Trump and Ukrainian President Volodymyr Zelenskyy later this week. Some bonds have risen slightly while others have dipped within a 1.5% range.

Background:

• Following a telephone conversation with Putin on 16 October, Trump announced that he will hold a bilateral meeting with him in Budapest.
• A meeting between Trump and Zelenskyy is scheduled for 17 October.

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