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Analytics and Market news

Monday, 2 November 2020

Ukraine Weekly Market Monitor

Eavex Capital

Kyiv-listed equities were mostly higher last week, with local investors ignoring the sharp drop in the major European and global stock indexes. The UX index climbed by 1.2% to 1311 points, compared to the decline in the MSCI emerging market index by 2.9% amid the new wave of fear among investors regarding rising COVID-19 cases.

In individual blue-chip names, CentrEnergo (CEEN) gained 5.9% to UAH 5.40 while DonbasEnergo (DOEN) was unchanged at UAH 19 per share after the company posted a marginal net profit of UAH 1.4mn for 9M20. Motor Sich (MSICH), which has been frozen for trading since 2018 amid a legal dispute over its majority ownership, reported a net profit of UAH 926mn for 9M20, implying UAH 446 net profit per share.

Raiffeisen Bank Aval (BAVL) added 2.8% to 37.00 kopecks, reacting positively to the bank’s report of UAH 1.05bn net profit for 3Q20 (EPS of 1.71 kopecks). For 9M20, Raiffeisen Aval’s net profit reached UAH 3.12bn (EPS of 5.07 kopecks).

In London trading, Ferrexpo (FXPO) increased by 3.5% to GBp 190 while MHP (MHPC) lost 6.1% to USD 5.50.

On the Warsaw Stock Exchange, Ukrainian companies were broadly lower in line with the overall contraction on the main European bourses. Kernel (KER) fell 4.5% to PLN 38.80 despite operational results for the Jul-Sept quarter which were in line with expectations. Kernel reported a solid 31% YoY growth in its grain trading volumes to 2.1mn tonnes in the quarter. Astarta (AST) slid 14% to PLN 18.20 and Agroton (AGT) lost 7.1% to close at PLN 3.71.

The hryvnia was under pressure last week, losing 0.7% against the dollar to 28.52 UAH/USD. The National Bank intervened in the interbank market with sale of hard currencies to support the hryvnia, but it was not enough to overturn the devaluation sentiment among market players.

POLITICS AND ECONOMICS

- Biden Holds Small but Steady Lead Over Trump Ahead of US Election

- Zelenskiy Threatens to Disband Constitutional Court After Scandalous Ruling

STOCKS IN THE NEWS

Raiffeisen Aval Meets Expectations with 3Q EPS of 1.71 Kopecks

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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