EAVEX Weekly

August 27, 2019
 

Kyiv-listed stocks finished mixed last week, but the PFTS index saw a notable decline of 1.5% to 527 points as it was weighed down by a drop in UkrNafta shares. Quotes for the oil producer fell by almost 12% to UAH 140 after the State Fiscal Service (SFS) filed a lawsuit aiming to strip UAH 547mn from the company’s bank account. The SFS claimed that UkrNafta’s overall tax debt has increased from UAH 14.6bn to UAH 15.8bn (USD 630mn) this year despite the company reporting that it had paid UAH 7.6bn in taxes in 7M19. On the upside, CentrEnergo (CEEN) added 1.1% to UAH 10.82 after a Kyiv court closed the 15-year old case related to the company’s possible bankruptcy. The court decision was long-awaited and should help to make CentrEnergo more attractive for privatization. Banking blue chip Raiffeisen Bank Aval (BAVL) remained unchanged at 30 kopecks on the nose.