EAVEX Weekly

September 30, 2019

Kyiv-listed equities were moderately higher for the week, with quotes edging up after the IMF mission’s representatives who worked in Ukraine during Sept 12-26 confirmed discussions on a new cooperation program. The mission announced that Ukraine managed to improve its fiscal and monetary policies, which resulted in a sharp reduction in the country’s external and internal imbalances. The overall fiscal deficit has been limited to just above 2% of GDP in the last two years and is expected to remain at the same level this year. The energy sector’s quasi-fiscal deficit has been sharply reduced, which should be viewed as a major accomplishment of the post-EuroMaidan governments. The PFTS index climbed by 0.6% to 525 points. UkrNafta (UNAF) added the most points to the gauge, advancing by 4.0% to UAH 152 per share. The company reported that its daily average oil output grew by 2.0% MoM and 4.3% YoY in August. CentrEnergo (CEEN) was also on the rise, adding 1.9% to UAH 10.50, while Raiffeis