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Analytics and Market news

Monday, 8 February 2021

Ukraine Weekly Market Monitor

Eavex Capital

The Ukrainian Exchange index (UX) rose by a solid 6.0% to 1765 points last week amid optimism regarding a recovery in business activity after some of the winter COVID quarantine measures were lifted in late January. However, mass events with the participation of more than 20 persons are still prohibited through the end of February.

In individual stocks, UkrNafta (UNAF) surged by 5.3% to UAH 200 after the companys majority shareholder NaftoGaz ordered preparations for UkrNaftas formal division. The move is expected to allow NaftoGaz to concentrate 100% ownership in UkrNaftas natural gas business segment.

Quotes for CentrEnergo (CEEN) advanced by 9.4% to UAH 8.75 despite the companys ongoing shortage of coal inventories. The state industry regulator admitted a crisis situation in electricity production in the country. Currently Ukraine is forced to import electricity from Belarus during the peak hours of electricity consumption.

Raiffeisen Bank Aval (BAVL) climbed 1.1% to 45.50 kopecks and quotes for DonbasEnergo (DOEN) were flat at UAH 24.00.

London-listed MHP (MHPC) edged up by 1.0% to USD 6.06, Ferrexpo (FXPO) added 5.3% to GBp 297, and JKX Oil&Gas (JKX) advanced by 8.5% to GBp 31.75.

In Warsaw trading, Kernel (KER) gained more clearance from the thorny PLN 50 resistance line, adding 3.5% to PLN 56.50, and Astarta (AST) continued its impressive rise, picking up 10.4% to finish at PLN 43.40, the stocks highest level since 2018.

The hryvnia appreciated by 1.5% against the dollar to 27.74 UAH/USD as increased grain exports provided support for the national currency. Meanwhile, the National Bank reported that its foreign reserves declined by about USD 300mn to USD 28.8bn in January, primarily due to repayments on external and domestic public debt.

POLITICS AND ECONOMICS

- Zelenskiys Shutdown of Pro-Russian Media Appears Politically Successful

STOCKS IN THE NEWS

- Kolomoyskiys USD 6bn UkrNafta Claim Against Ukraine Dismissed in Stockholm

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:

Dmitry Churin, Head of Research, d.churin@eavex.com.ua

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