EAVEX Weekly

April 22, 2019
 

Kyiv-listed stocks finished lower last week amid only sporadic trading activity amid pre-election jitters in the country ahead of the expected defeat of President Poroshenko at the hands of political newcomer Volodymir Zelenskiy. The PFTS index shed 0.6% to close at 533 points on Friday (Apr 19). UkrNafta (UNAF) was again the loss leader among the index components, falling by 9.5% to UAH 146 per share on renewed fears that the company’s tax debt problem won’t be resolved despite optimism on the subject earlier this month. UkrNafta had approved a large natural gas sale deal with the state giant NaftoGaz to raise money for the tax debt repayment but now it looks like the deal could be stuck in limbo. News that UkrNafta won a ruling forcing Russia to pay USD 44mn compensation for expropriation of the company’s property in Crimea had a neutral impact on the stock. CentrEnergo (CEEN) declined by 2.4% to UAH 12.10 while DonbassEnergo (DOEN) added 5.5% to UAH 27.70. Raiffeisen Bank Ava