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Analytics and Market news

Monday, 3 August 2020

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed stocks finished higher last week, with the UX index gaining 1.4% to close at 1318 points on Friday (Jul 31). Previously beaten-down CentrEnergo (CEEN) and TurboAtom (TATM) added the most points to the benchmark. CentrEnergo jumped by 16% to UAH 6.00 after the Anti-Monopoly Committee made an effort to improve competitiveness on the country’s wholesale electricity market. An expected improvement in price transparency in the so-called direct contract electricity segment should eliminate speculative deals which often hurt CentrEnergo’s ability to sell its energy output. TurboAtom (TATM) had a rebound of 17% to UAH 8.20 after tumbling by 30% to UAH 7.00 over preceding week. Meanwhile, UkrNafta (UNAF) lost 2.3% to close at UAH 122 per share. In second-tier stocks, Krukiv Wagon (KVBZ) rose 9.0% to UAH 17.00.

The National Bank published its quarterly economic review, stating that business activity in June started to recover. The NBU now forecasts that Ukraine’s GDP will contract by 6.0% this year and that full-year consumer inflation will be at 4.7%.

In London trading, poultry producer MHP (MHPC) shed 1.9% to USD 6.24 after the company reported a 6% decline in sales volume in 2Q20. Ferrexpo (FXPO) fell 3.8% to GBp 178 per share and Enwell Energy (ENW), formerly Regal Petroleum, edged down by 1.8% to GBp 14.00.

Major Ukrainian equities listed on the Warsaw Stock Exchange finished mixed, with Astarta (AST) advancing by 3.8% to PLN 16.60 while Kernel (KER) and Agroton (AGT) dropped by 2.8% to PLN 39.35 and 7.0% to PLN 3.71 respectively.

On the currency front, the hryvnia gained 0.5% to 27.74 UAH/USD despite devaluation sentiments prevailing among the market players.

POLITICS AND ECONOMICS

- Kyiv Asks Belarus to Extradite Arrested Russian Mercenaries

- Ukrainian Government Targets 4.6% GDP Growth for 2021

STOCKS IN THE NEWS

- MHP’s 2Q20 Poultry Pricing Slumps 15% YoY to UAH 34/kg, Sales Volume Down 6%

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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