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Analytics and Market news

Monday, 22 April 2019

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks finished lower last week amid only sporadic trading activity amid pre-election jitters in the country ahead of the expected defeat of President Poroshenko at the hands of political newcomer Volodymir Zelenskiy. The PFTS index shed 0.6% to close at 533 points on Friday (Apr 19). UkrNafta (UNAF) was again the loss leader among the index components, falling by 9.5% to UAH 146 per share on renewed fears that the company’s tax debt problem won’t be resolved despite optimism on the subject earlier this month. UkrNafta had approved a large natural gas sale deal with the state giant NaftoGaz to raise money for the tax debt repayment but now it looks like the deal could be stuck in limbo. News that UkrNafta won a ruling forcing Russia to pay USD 44mn compensation for expropriation of the company’s property in Crimea had a neutral impact on the stock.      

CentrEnergo (CEEN) declined by 2.4% to UAH 12.10 while DonbassEnergo (DOEN) added 5.5% to UAH 27.70. Raiffeisen Bank Aval (BAVL) was unchanged at 35.60 kopecks.

On the London Stock Exchange, Ferrexpo (FXPO) corrected by 3.1% to GBp 286 after a strong growth earlier this month. Natural gas producers with assets in Ukraine were mixed, with JKX Oil&Gas (JKX) advancing by 8.1% to GBp 57.30 after the company reported a 13.2% YoY increase in production in 1Q19. Regal Petroleum (RPT) dropped by 7.0% to GBp 40 on the nose. Poultry major MHP (MHPC) gained 6.6% to close at USD 11.25 after the company released upbeat operational figures for 1Q19.

In Warsaw trading, Kernel (KER) was little-changed at PLN 53.80 despite the company’s solid operational results for Jan-March quarter.

On the interbank currency market, the hryvnia edged down by 0.2% to 26.85 UAH/USD.

POLITICS AND ECONOMICS

- Focus Shifts to Parliament Election as Zelenskiy Thrashes Poroshenko

STOCKS IN THE NEWS

Kernel Posts Impressive 18% YoY Oil Sales Growth in Jul-Mar 9M

MHP’s 1Q18 Poultry Sales Rise 21% YoY to 164,000 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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