EAVEX Weekly

November 13, 2017

Kyiv-listed stocks ended mixed last week in low trading activity amid a generally dry news flow. In the latest statements from the IMF regarding Ukraine, the Washington-based institution said that direct losses from corruption are costing the country several billion dollars, or about 2% of GDP, every year. The IMF also said it is still evaluating recent Ukrainian pension legislation to see if the bill meets the targets of the USD 17.5bn loan program. Sustainable pension reform, privatization, and a domestic heating tariff hike are the goals Ukraine must meet to qualify for the substantially-delayed next disbursement from the program, which also went off track during most of 2016. The UX index rose by 1.2% to close at 1269 points. Aviation engine producer Motor Sich (MSICH) was the top gainer, advancing by 6.0% to a fresh 3-year (UAH-denominated) maximum of UAH 3250 per share. Meanwhile, Raiffeisen Bank Aval (BAVL) fell 2.9% to 28.10 kopecks after news that the bank might try to use Uk