EAVEX Weekly

July 15, 2019

Kyiv-listed stocks finished in the red last week, failing to find support from local traders who are becoming more and more dissatisfied with the market’s lack of liquidity. The PFTS index shed 1.5% to close at 539 points after gaining 1.0% over the preceding week. The Ukrainian stock market index has lost 3.6% since the year start, significantly underperforming the broad MSCI emerging market gauge, which has added 8.7% YtD. Shares of Raiffeisen Bank Aval (BAVL) edged down 1.5% to 30 kopecks on the nose, while CentrEnego (CEEN) was unchanged at UAH 11.00 and DonbasEnergo (DOEN) fell 3.1% to UAH 25.54 as the company announced a special shareholders’ meeting with the agenda containing a so-called “item on large deals”. The DOEN minority shareholders who vote against the “large deals” at the meeting will receive a guaranteed option to sell their shares to the company at a predetermined price. Quotes for UkrNafta (UNAF) were flat at UAH 175 amid expectations that the company will post a s