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Analytics and Market news

Monday, 26 October 2020

Ukraine Weekly Market Monitor

Eavex Capital

The Ukrainian Exchange index (UX) declined by 0.9% to 1295 points last week. TurboAtom (TATM) was the worst-performing blue chip, falling 5.8% to UAH 7.90. Quotes for UkrNafta (UNAF) were flat at UAH 129 per share. CentrEnergo (CEEN) added 4.9% to close at UAH 5.10 after the company unveiled a net profit of 89 kopecks per share for 3Q20. Raiffeisen Bank Aval (BAVL) inched down by 0.3% to 36.00 kopecks.

In major macroeconomic statistics, the industrial production index dropped by 4.4% YoY in September with the manufacturing sector showing a 5.8% YoY contraction in the period. Meanwhile, retail sales continued to rebound from the COVID decline, with the retail turnover index rising 11.6% YoY in September and by 6.7% YoY in 9M20.

London-listed Ferrexpo (FXPO) advanced by 8.0% to GBp 184 as benchmark Fe 62% iron ore prices hover near their local maximum of USD 120 per tonne. Enwell Energy (formerly Regal) rose 4.3% to GBp 20.3 thanks to increasing natural gas prices in Ukraine where the company’s operations are concentrated. Poultry producer MHP (MHPC) climbed by 1.0% to USD 5.86 after the company said it boosted its sales volume by 18% YoY in 3Q20.

On the Warsaw Stock Exchange, Kernel (KER) rose by 2.3% to PLN 40.30 while Astarta (AST) surged by 20% to PLN 21.10 after the company got additional working capital injection from the EBRD.

On the currency front, the hryvnia edged up by 0.1% against the dollar to close at 28.32 UAH/USD. The National Bank left its key refinancing rate unchanged at 6.0% after its Oct 22 policy meeting, with the next meeting schedule for Dec 10. The NBU also updated its macroeconomic forecasts, saying it expects full-year consumer inflation of 4.1%, up from the tiny 2.3% 12-month inflation registered after the September data. The NBU sees the country’s GDP drop for 2020 at 6.0% YoY, with a recovery of 4.0% in 2021.


- Zelenskiy’s Party Suffers Crushing Loss in Kyiv Amid Klitschko Show of Strength


CentrEnergo Beats Expectations with UAH 331mn Net Profit in 3Q20

MHP’s Poultry Sales Volume Up 18% YoY in 3Q20 Amid Pricing Slump

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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