Ukrainian equities took a hit on Tuesday (Feb 17) as it became
apparent that the danger of escalation of the conflict in eastern Ukraine has
not vanished despite last week’s the ceasefire deal in Minsk. In addition, the
country’s macroeconomic data looked bad, with retail turnover plunging by 22.6%
YoY in January. The UX index slid 3.3% to close at 1070 points. All 10 UX
components were in the red. UkrNafta (UNAF) fell 4.8% to UAH 290 after the
government announced an increase in the production tax for state-controlled
oil&gas companies from the current cap level of 55% all the way to 70%.
Index heavyweights Motor Sich (MSICH) and CentrEnergo (CEEN) retreated by 1.5%
and 1.8% respectively, and Raiffeisen Aval (BAVL) slid 4.2% to 9.80 kopecks per
share. In London, low-liquidity Avangard (AVGR) lost 17.8% to USD 3.10 while JKX
Oil&Gas (JKX) rose by 2.7% to a 3-month high of GBp 33.50. Warsaw-listed
Ukrainian issues were mixed with Agroton (AGT) dropping by 3.5% while Astarta
(AST) added 5.6% after the company announced a solid increase in its EBITDA for
FY14.
full reportEavex 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,
[email protected]
Dmitry
Churin, Head of Research, [email protected]
