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Analytics and Market news

Monday, 2 September 2019

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks ended somewhat higher amid a politically active week in Ukraine that saw the newly elected Parliament convene to approve the new government. A total of 281 MPs voted in favor of the proposed Cabinet of Ministers on Aug 29 out of 226 needed votes. Incoming Prime Minister Oleksiy Honcharuk has already announced that an IMF mission is expected to arrive in a few weeks for discussion of a new 3-4 year support program.

The PFTS index edged up by 0.1% to 527 points, with UkrNafta once again being the most volatile blue chip. The UNAF stock quotes advanced by 3.6% to UAH 145 after a sharp drop a week earlier. TurboAtom (TATM) was on the rise, adding 2.2% to UAH 11.90 after the company signed a 5-year UAH 6.0bn deal with Ukrainian state-run nuclear operator EnergoAtom for power unit modernization. Raiffeisen Bank Aval (BAVL) gained 3.3% to 31.00 kopecks per share.

In London trading, Ferrexpo (FXPO) remained weak, slipping 1.0% to GBp 202 per share. Poultry producer MHP (MHPC), which has been suffering from political fallout following the election of Vladimir Zelenskiy to the presidency, lost 2.9% to USD 9.50 after domestic media outlets reported that the EBRD could block a EUR 100mn loan that had been previously agreed with the company. The EBRD board is expected to consider the loan approval to MHP in late October.

Warsaw-listed Ukrainian agro stocks recovered part of their losses amid improved global sentiments. Top liquid name Kernel (KER) climbed 0.9% to PLN 45.10 while Agroton (AGT) advanced by 4.7% to PLN 3.12.

On the interbank currency market, the hryvnia finished essentially unchanged at 25.16 UAH/USD.

POLITICS AND ECONOMICS

- Honcharuk Named PM, Avakov Keeps Job at Interior, Zelenskiy Threatens New Parliament with Dismissal After 1 Year

- Industry Under-Performs Ukraine GDP Growth, Down 0.2% YoY in July

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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