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Analytics and Market news

Monday, 23 October 2017

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks finished higher last week as investors shrugged off a round of anti-government demonstrations in the capital. Several thousand protesters from diverse opposition groups ranging from reformist liberals to militant nationalists rallied outside Parliament on Tuesday (Oct 17), with some hard-liners calling for President Poroshenko to step down. Among the demands of protest leaders are the abolition of single-mandate districts in national parliamentary elections. Other frequently-heard demands are the establishment of a court system focused exclusively on corruption cases court and the end of MPs’ immunity from criminal prosecution. 

The UX index gained 1.3% to close at 1235 points. Low-liquidity UX index member DonbasEnergo (DOEN) was the growth leader among blue chips for the second week in a row, rising 3.2% to UAH 17.50. CentrEnergo (CEEN) advanced by 2.4% to UAH 11.16 while Motor Sich (MSICH) was unchanged at UAH 2945. Raiffeisen Bank Aval (BAVL), which is the star performer this year, climbed 1.4% to 28.40 kopecks ahead of the release of its 3Q financials.

In London trading, Ferrexpo (FXPO) fell 5.6% to GBp 273 and MHP (MHPC) was flat at UAH 11.20 after reporting a somewhat disappointing operational update for 3Q. On the Warsaw Stock Exchange, top liquid name Kernel (KER) continued its downward slide, losing another 0.5% to PLN 48.00; the issue was above PLN 80 early this year. Lugansk-based crop grower Agroton (AGT) ended with a loss of 9.4% to PLN 4.05 after failing to break through the PLN 5 barrier.

On the currency market, the hryvnia saw light fluctuations against the dollar, trading in a range of 26.40-26.60 UAH/USD during the week.

POLITICS AND ECONOMICS

-  Poroshenko Faces Down Biggest Protests Since EuroMaidan

STOCKS IN THE NEWS

-  MHP Blames 3Q17 13% YoY Sales Drop on Low Inventories

full report

Eavex Capital welcomes any questions or comments you may have regarding our research products.
Please contact our office in Kyiv at 380-44-590-5454, or by email:

Alexander Klymchuk, Head of Sales, a.klymchuk@eavex.com.ua
Dmitry Churin, Head of Research, d.churin@eavex.com.ua

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