EAVEX Weekly

September 09, 2019

Kyiv-listed stocks ended virtually unchanged last week with the PFTS index closing just 0.1% higher at 528 points. The National Bank’s move to cut the key refinancing rate from 17.00% to 16.50% had no impact on the local stock market. The rate cut had been expected to be even larger before July’s above-target inflation figure of 9.1% was released. In individual blue chips, UkrNafta (UNAF) remained at UAH 145 per share, ignoring business media reports that state-run energy giant NaftoGaz put into its financial plan a payment of UAH 17bn to UkrNafta for previously delivered natural gas. However, the payment could still be frozen by the new government. Raiffeisen Bank Aval (BAVL) and CentrEnergo (CEEN) were also inactive over the week, with the latter finishing at UAH 10.86 per share.