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Analytics and Market news

Monday, 21 October 2019

Ukraine Weekly Market Monitor

Eavex Capital

Ukrainian equities listed in Kyiv finished mixed last week, with a report that the World Bank improved its forecast for the country’s economic outlook having no impact on investors’ mood. The World Bank raised its projection for Ukrainian GDP growth from 3.0% to 3.7% for 2020. The new projections from the reputable financial institution are still substantially below what Prime Minister Oleksiy Honcharuk announced as the goal of achieving 40% GDP growth over five years: 5% in 2020, 7% each in the next four years.  

The PFTS index edged down by 0.8% to 522 points as losers outweighed gainers among the gauge components. Raiffeisen Bank Aval (BAVL) provided the most support to the index, rising 2.9% to 31.50 kopecks on expectations of a solid 3Q earnings report which could appear this Friday, and TurboAtom (TATM) added 1.9% to UAH 10.80 per share. On the downside, UkrNafta (UNAF) dropped by 4.0% to UAH 145 after the company was able to sell only part of its extracted crude oil at its Oct 16 auction. CentrEnergo (CEEN) declined by 2.2% to UAH 9.70 amid huge uncertainty over whether the company was profitable in 3Q19.    

In London trading, Ferrexpo (FXPO) extended its sharp losing streak, giving up another 7.5% to close at GBp 136, as the company’s CEO and majority shareholder Constantine Zhevago is facing criminal charges. Ukraine has added Zhevago to an international wanted list after he failed to report for questioning about his former business commitments related to his insolvent F&C Bank.

Poultry producer MHP (MHPC) gained 5.5% to USD 8.90 after the company reported quite upbeat production figures for 3Q19.

Warsaw-listed Ukrainian agro stocks were mixed, with Kernel (KER) picking up 0.4% to PLN 42.10 while Astarta (AST) declined to an all-time low of PLN 16.40 after losing 4.1% for the week.

The hryvnia weakened by 1.4% to 25.07 UAH/USD, which could be explained as a seasonal pattern for the currency pair. 

POLITICS AND ECONOMICS

- Hladkovskiy Free on USD 400,000 Bail After Arrest

STOCKS IN THE NEWS

MHP’s Poultry Production Jumps 24% YoY in 3Q19

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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