Ukrainian stocks remained on the rise last week, with the UX index posting a 2.7% gain to 1681 points. In individual names, CentrEnergo (CEEN) added 3.8% to UAH 8.30, ignoring information that the company faces problems with its coal supplies. CentrEnergo accused the DTEK conglomerate of contract violations regarding coal delivery volumes and pricing.
Raiffeisen Bank Aval (BAVL) advanced by 7.0% to end at 46.00 kopecks as market players are hoping for a generous dividend of 6.15 kopecks from the bank’s FY20 profit. Quotes for UkrNafta (UNAF) were flat at UAH 192 per share. In second tier stocks, railcar producer Krukiv Wagon (KVBZ) moved up by 5.6% to UAH 19.00.
In recent developments around Motor Sich (MSICH), whose shares have been locked since April 2018, Chinese investors have filed a USD 3.5bn arbitration case against Ukraine for blocking their ownership of the company. By some estimates, the Chinese group has consolidated about 75% of Motor Sich’s shares.
On the London Stock Exchange, iron ore miner Ferrexpo (FXPO) lost 5.5% to GBp 312 in the second straight week of correction for the stock after its long run of gains. MHP (MHPC) added 2.6% to USD 6.26 ahead of the company’s operational update due on Jan 28.
Warsaw-listed Kernel (KER) picked up 3.4% to PLN 54.60 and Astarta (AST) climbed by 1.4% to PLN 35.00. Sporadically-traded Agroton (AGT) jumped 35% to PLN 7.20 without an obvious driver.
The hryvnia was unchanged against the dollar over the week, closing at 28.16 UAH/USD on Friday. The National Bank’s decision to hold the key refinancing rate at 6.0% was broadly expected by the market. However, the consensus expectation is that the key rate will be raised by at least 150 bps to 7.5% later this year.
POLITICS AND ECONOMICS
- Ukraine’s Kuleba Offers Support for Navalniy, Calls Him ‘Enemy of Our Enemy’
- Ukraine Posts Full-Year 2020 Industrial Output Decline of 5.2%
STOCKS IN THE NEWS
- Kernel Sets All-Time Seed-Crushing High with 1M Tonnes Processed in Oct-Dec
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
