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Analytics and Market news

Monday, 27 January 2020

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks finished mostly lower for the week, although the PFTS index saw only a minimal loss of 0.1% to 506 points. CentrEnergo (CEEN) was once again a drag for the market, falling by 2.5% to UAH 8.53 per share. Low-liquidity Turboatom (TATM) and Krukiv Wagon (KVBZ) were both unchanged at UAH 10.60 and UAH 15.60 respectively. Raiffeisen Bank Aval (BAVL) remained a bright spot among local stocks, propping up the index with its gain of 1.8% to 34.30 kopecks.

In major economic news, UkrStat reported that the country’s industrial production slumped by 7.7% YoY in December, extending the contraction of 7.3% seen in November. For full-year 2019, the industrial output in the country declined by 1.8% YoY, failing to meet positive initial expectations at the start of last year. Nevertheless, despite disappointing results in the industrial sectors for 2019, Ukraine’s economy grew by at least 3.0% last year, driven by accelerated private consumption amid rising real wages. UkrStat reported that retail sales jumped 10.5% YoY last year.

On the London Stock Exchange, shares of poultry producer MHP (MHPC) fell by 1.3% to USD 8.72, hit by information that the EU temporarily suspended imports of poultry from Ukraine after a case of bird flu was recorded in Vinnytsa province, the location of MHP’s main facilities. The company released a statement assuring investors that all necessary measures are being taken to prevent potential outbreaks, and that MHP’s enterprises are not under threat.

Ferrexpo (FXPO) lost 6.7% to GBp 145, as investors priced in an increase in the Ukrainian iron ore production tax from 8% to 12%.

In Warsaw trading, Astarta (AST) corrected by 7.2% to PLN 17.35 after the stock had jumped by almost 20% over the preceding week. Kernel (KER) declined by 2.9% to PLN 47.30 while sporadically-traded Agroton (AGT) surged by 20% to PLN 4.14.

The hryvnia experienced a third straight week of devaluation, shedding 0.6% against the dollar to close at 24.48 UAH/USD.

POLITICS AND ECONOMICS

- Pompeo Accused of Mocking Ukraine Days Before Trip to Kyiv

- Ukraine Posts Full-Year 2019 Industrial Output Decline of 1.8%

STOCKS IN THE NEWS

- 2019’s Record Harvest Driving Strong Kernel Grain Export Numbers

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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