EAVEX Weekly

March 26, 2018

Kyiv-listed stocks finished mixed last week. Among positive news was the publication of the final GDP data for 2017, which stated that the country’s economy grew by 2.5% YoY last year, revised substantially upward from the preliminary estimate of 2.1% YoY growth. This puts expectations that Ukraine’s GDP will rise by 3.0% YoY this year on a more realistic footing, especially with most statistics from the occupied Donbass now removed from the comparison base. Motor Sich (MSICH) was in the spotlight during the week, as the government’s Deposit Guarantee Fund (DGF) auctioned a block of MSICH stock which it had previously confiscated from insolvent banks. The block of a 0.24% stake in Motor Sich was sold to a single buyer at UAH 5267 per share, representing a 15% premium to the previous day’s closing price. The auction result lifted Motor Sich quotes on the Ukrainian Exchange by 6.2% to UAH 4850 per share.