EAVEX Weekly

March 16, 2020

Kyiv-listed stocks were broadly lower last week in line with the heavy sell-off seen on global financial markets. Ukrainian flagship oil producer UkrNafta (UNAF) was the biggest decliner, slumping 9.2% to UAH 139 amid tumbling crude benchmarks. Saudi Arabia and Russia are now engaged in a price war after failing to agree on a supply cut at their Vienna OPEC-plus meeting. Russia and Saudi Arabia had been curtailing their collective production since 2016 in an effort to bolster prices. In other local blue chips, Raiffaisen Bank Aval (BAVL) edged down by 0.8% to 37.00 kopecks and CentrEnergo (CEEN) dropped by 1.5% to UAH 8.40 per share.