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Analytics and Market news

Monday, 8 October 2018

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks ended moderately higher last week, helped by news that the World Bank has improved its forecast for Ukraine’s state & guaranteed debt in 2018 to 67% of GDP, down from 75%. The World Bank estimated that by 2021, the figure could decline to 58% of GDP, with 60% viewed as a long-term sustainability benchmark.    

The UX index edged up by 0.7% to close at 1669 points. CentrEnergo (CEEN) was the main growth driver, advancing by 3.8% to UAH 15.84 per share. Positive expectations that the state-owned 78% stake in the company will finally be privatized in late November after more than 5 years of delays is keeping the stock in focus. The starting price at the CentrEnergo auction has been set at USD 212mn, corresponding to UAH 16.20 per share. Raiffaisen Bank Aval (BAVL) rose 2.4% to 31.90 kopecks while UkrNafta (UNAF) lost 1.8% to UAH 110. Low-liquidity blue chip TurboAtom (TATM) added 3.0% to UAH 13.90 after the government approved the draft financial 2019 plan for the company, which envisages a 5% YoY increase in net profit to UAH 798mn.  

In London trading, Regal Petroleum (RPT) declined by 3.5% to GBp 40.90. Poultry giant MHP (MHPC) slipped 0.8% to close at USD 12.30, while top liquid issue Ferrexpo (FXPO) surged 8.5% to GBp 217 per share amid the increasingly bullish global commodity outlook.

Warsaw-listed Kernel (KER) added a solid 3.2% to PLN 51.60 on expectations of a substantial increase in the group’s grain exports this year. The sporadically-traded stock of shell egg producer Ovostar (OVO) edged up 2.0% to PLN 104 per share.

On the domestic currency market, the hryvnia gained 0.4% against the dollar to finish the week at 28.12 UAH/USD.

POLITICS AND ECONOMICS

- Kyiv’s Relations with Hungary Worsen Amid Consul Explusions

- MinFin Targets 2.3% of GDP Budget Deficit for 2019

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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