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Analytics and Market news

Monday, 28 September 2020

Ukraine Weekly Market Monitor

Eavex Capital

Locally-listed Ukrainian stocks edged higher last week, with investors cheered by a public comment from Prime Minister Dennis Shmygal calling for more active development of the domestic stock market. For the second time this month, the prime minister noted that the absence of a functioning stock market after almost 30 years of Ukraine’s independence is a tragic circumstance, and that the benefits of a stock market can be seen in the example of neighboring countries. The UX index ended the week at 1289 points, a gain of 0.9%.

In individual UX index components, Raiffeisen Bank Aval (BAVL) bounced back to 41.50 kopecks (+5.1%) after the bank’s supervisory board set Oct 9 as the ex-rights date for a 6.95 kopecks per share dividend from FY19 net profit. The dividend is expected to be paid out starting on Oct 26.

UkrNafta (UNAF) grew by 1.7% to UAH 120 despite the company reporting that its oil extraction declined by 2.5% YoY to 915,000 bbl in August. On the downside, CentrEnergo (CEEN) lost 4.2% to UAH 4.60 per share.

In London trading, Ferrexpo (FXPO) suffered a large loss after failing to break through the GBp 200 resistance level, slumping 14% to GBp 173 per share. MHP (MHPC) climbed by 2.3% to USD 5.32.

On the Warsaw Stock Exchange, Kernel (KER) added 1.0% to PLN 39.65 while Astarta (AST) corrected by 8.1% to PLN 16.55 after its surge by 15% over the preceding week.

The hryvnia edged down by 0.4% to 28.31 UAH/USD amid the overall strength of the dollar against other world currencies. The US Dollar Index (DXY) gained 1.8% for the week. The index is used to measure the value of the dollar against a basket of six major currencies of the most significant US trading partners: the Euro, Swiss Franc, Japanese Yen, Canadian dollar, British pound, and Swedish krona.

POLITICS AND ECONOMICS

- Ukraine’s New COVID Cases Rise Above 3000 Per Day

- Ukrainian Industrial Decline at 5.3% YoY for August and 7.4% for 8M20

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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