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Analytics and Market news

Monday, 23 April 2018

Ukraine Weekly Market Monitor

Eavex Capital

Ukrainian locally-listed stocks saw fresh gains last week, spurred by bets on high corporate profits for the first quarter. The earnings season has not yet begun in Ukraine but traders were ready to increase their long positions amid the ongoing global bull run in equities.

The UX index climbed 0.9% to end at 1818 points. Raiffeisen Bank Aval (BAVL) was the growth leader among the six index components, rising 2.5% to 36.90 kopecks ahead of the bank’s annual shareholders meeting. Raiffeisen International, the dominant shareholder, is expected to push through a 7-kopeck dividend payout from FY17 profit. CentrEnergo (CEEN) edged down 0.3% to UAH 21.00 while Motor Sich (MSICH) added 1.4% to UAH 5475 per share. UkrNafta (UNAF) managed to stay at the UAH 114 level despite the company’s ongoing battle with the government’s State Geological Service regarding the renewal of its drilling licenses. Power engineering blue chip TurboAtom (TATM) picked up 3.0% to UAH 14.60 after the company’s shareholders approved a UAH 1.26 per share dividend. The ex-rights date for the dividend will be set separately by TurboAtom’s supervisory board.  

London-listed Ferrexpo (FXPO) recovered 8.7% to close at GBp 237 as benchmark iron ore prices finally moved higher after China reported better-than-expected GDP growth of 6.8% YoY in 1Q18. China is the biggest importer of iron ore in the world. MHP (MHPC) did not react to the company’s operational update showing a 9% increase in poultry sales volume in 1Q18. Also in London, Regal Petroleum (RPT) corrected by 8.9% to GBp 22.40 per share.

The Warsaw-listed major Ukrainian agro stocks ended lower. Kernel (KER) declined by 6.4% to PLN 48.65 after the passage of the ex-rights date for its USD 0.25 dividend. Sporadically-traded issue Agroton (AGT) slipped 1.9% to PLN 5.30.   

The Ukrainian currency inched down 0.1% against the dollar to close at 26.17 UAH/USD. The hryvnia continues to perform somewhat better than expected this year, as the government had forecasted an average exchange rate of 29.30 UAH/USD for 2018.   

STOCKS IN THE NEWS

-Kernel’s Sunflower Oil Sales Up 14% YoY in Jul-Mar 9M Period

-MHP’s 1Q18 Poultry Sales Rise 9% YoY to 135,000 tonnes


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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