The UX index gained 2.2% to 1880 points last week after quotes for UkrNafta (UNAF) leapt by 12% to UAH 260 per share. The rally in the UNAF stock was driven by information contained in the NaftoGaz annual report, indicating UkrNafta’s solid EBITDA for FY20. UkrNafta has not released its P&L for 2020 yet. NaftoGaz said that UkrNafta had UAH 9.63bn in EBITDA in FY20 in comparison to a negative EBITDA of UAH 1.25bn for FY19. UkrNafta’s result was positively impacted by higher volumes of crude oil sold and lower fines and penalties in respect to outstanding tax liabilities which were settled during 2020.
In other UX index components, CentrEnergo (CEEN) and DonbasEnergo (DOEN) were unchanged at UAH 9.05 and UAH 25 per share respectively. Raiffeisen Bank Aval (BAVL) added 3.4% to 46.00 kopecks.
On the London Stock Exchange, Ferrexpo (FXPO) advanced by 2.3% to a new multi-year high of GBp 439 and MHP (MHPC) recovered 2.0% from its recent slide to close at USD 5.10. Natural gas producer JKX Oil&Gas (JKX) slumped by 11% to GBp 20.25 after the company lost a court case for USD 14mn related to a claim for 2010 production tax payments.
Warsaw-listed Ukrainian names were mixed, with Kernel (KER) declining by 1.4% to PLN 51.00 while Astarta (AST) surged by 15% to PLN 43.80 after word spread that the company’s CEO and largest shareholder Viktor Ivanchyk was acquiring additional shares.
On the currency front, the hryvnia gained 0.5% to 27.81 UAH/USD in low trading activity ahead of the long holiday period in the country, which this year combines Easter with the traditional early May vacations.
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