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Analytics and Market news

Monday, 26 March 2018

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks finished mixed last week. Among positive news was the publication of the final GDP data for 2017, which stated that the countrys economy grew by 2.5% YoY last year, revised substantially upward from the preliminary estimate of 2.1% YoY growth. This puts expectations that Ukraines GDP will rise by 3.0% YoY this year on a more realistic footing, especially with most statistics from the occupied Donbass now removed from the comparison base.

Motor Sich (MSICH) was in the spotlight during the week, as the governments Deposit Guarantee Fund (DGF) auctioned a block of MSICH stock which it had previously confiscated from insolvent banks. The block of a 0.24% stake in Motor Sich was sold to a single buyer at UAH 5267 per share, representing a 15% premium to the previous days closing price. The auction result lifted Motor Sich quotes on the Ukrainian Exchange by 6.2% to UAH 4850 per share.  

The UX index gained 1.0% for the week to close at 1645 points on Friday (Mar 23). Beaten-down UkrNafta (UNAF) recovered 5.2% to UAH 108 while CentrEnergo (CEEN) lost 6.8% to UAH 18.20. Index newcomer TurboAtom (TATM), the baskets sixth blue chip member, added 2.3% to UAH 14.40 per share. Raiffeisen Bank Aval (BAVL) ended unchanged at 33.60 kopecks.      

In London, Ferrexpo (FXPO) fell 15% to GBp 266 per share as sliding iron ore prices outweighed the companys report of a solid profit for FY17. MHP (MHPC) managed to stay immune to the correction on global equity markets, with the sporadically-traded stock edging up 0.8% to USD 13.45.

In Warsaw trading, Ukrainian agro stocks were lower; Kernel (KER) and Astarta (AST) declined by 3.8% and 4.3% respectively, with the former ending at PLN 50.00.

On the currency market, the hryvnia gained 0.5% to 26.30 UAH/USD as Ukrainian agro holdings sold some of their foreign exchange holdings ahead of the spring planting campaign.

POLITICS AND ECONOMICS

- Klitschko Not Ruling Out Presidential Run in Next Years Race

- Industrial Output Rises 1.9% YoY in February with Chemicals in the Lead

STOCKS IN THE NEWS

- Ferrexpo Proposes Special 10-Cent Dividend After Doubling Full-Year Profit


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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