EAVEX Weekly

July 20, 2020

Kyiv-listed equities were mixed last week, with the UX index managing a rise of 1.2% to 1298 points. UkrNafta (UNAF) was the main growth driver for the benchmark, with the stock gaining 6.4% after news that the company was prevented from using a far-below-market starting price of USD 22 per barrel for its mandatory monthly oil auction. The news provided some hope that UkrNafta, which has been selling its oil at extremely cheap prices to entities affiliated with minority shareholder Igor Kolomoyskiy, will be more transparent in its crude oil sale procedures. UkrNafta’s crude auction scheduled for Jul 15 was cancelled, with no announcement about when the next one would be conducted. In the utility sector, CentrEnergo (CEEN) climbed by 1.9% to UAH 5.50 while sporadically-traded DonbassEnergo (DOEN) tumbled by 10% to UAH 19.70 per share.