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Analytics and Market news

Tuesday, 16 October 2018

Ukraine Weekly Market Monitor

Eavex Capital

Trading in Kyiv-listed stocks remained at low volumes last week. Most of the deals were concentrated in CentrEnergo (CEEN), which continued to rise on privatization expectations. The stock advanced by 6.2% to UAH 16.80 per share, bringing its gain since late September to above 15%.

In economic news, Ukrainian consumer inflation jumped by 1.9% in September, but 12-month headline inflation remained under control near 9% due to the seasonal nature of the price hikes. In major political news, Ukraine secured approval from religious authorities in Istanbul to establish an independent church, in what President Poroshenko called a vital step against Russian interference in Ukraine’s affairs. The Russian Orthodox church has long been a hostile actor against the Ukrainian state, allowing itself to be used as a tool of the Kremlin to justify Russian imperialism.

The UX added 1.3% for the week to close at 1690 points, showing no reaction to the rather heavy selloff seen on major Western bourses. UkrNafta (UNAF) was the second biggest gainer among five UX index components, picking up 3.2% to UAH 113 after the company reported a 20% YoY jump in its oil output for the third quarter. On the downside, DonbasEnergo (DOEN) shed 1.9% to UAH 26.00 and TurboAtom (TATM) slipped 1.0% to UAH 13.60. Top financial name Raiffaisen Bank Aval (BAVL) was unchanged at  31.90 kopecks.

In London trading, Ferrexpo (FXPO) climbed 3.8% to GBp 225 after an encouraging 3Q production report, and JKX Oil&Gas (JKX) jumped 5% reacting on 8% YoY increase in output in the recently-ended quarter.

Warsaw-listed Kernel (KER) gave up 0.2% to close at PLN 51.50 in line with the rough week in global equities.

On the domestic currency market, the hryvnia strengthened by 0.6% against the dollar to finish the week at 27.96 UAH/USD.

POLITICS AND ECONOMICS

- Kyiv’s Relations with Hungary Worsen Amid Consul Explusions

- Headline Inflation Remains Close to 9% After September Data

STOCKS IN THE NEWS

UkrNafta Reverses Decline, Boosts 3Q Oil Output by 20% YoY

Ferrexpo’s Pellet Production Up 7% YoY in 3Q, But Only 1% for 9M18

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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