EAVEX Weekly

October 31, 2017

Kyiv-listed stocks were on the rise last week as the previous week’s political protests mostly dissipated and the National Bank upgraded its forecast for the country’s economic recovery. The NBU said it now expects GDP growth for 2017 to come in at 2.2% YoY, a notable increase from the previous 1.6% projection. The NBU left its forecast for 2018 GDP growth at ​3.2%. The Ukrainian economy grew by 2.3% in 2016 and nominal GDP was UAH 2.38tn (USD 93bn). The UX index added 1.7% to close at 1255 points. Motor Sich (MSICH) gained 3.6%, climbing above the UAH 3000 level and finishing at UAH 3036 after the company reported third-quarter earnings which fell in line with expectations. CentrEnergo (CEEN) picked up 0.4% to UAH 11.20, also after 3Q17 results which confirmed the company’s solid fundamentals. UkrNafta (UNAF) was little-changed at UAH 143 per share ahead of the 3Q earnings report due out this week. Raiffeisen Bank Aval (BAVL), which is also due to release its results, advanced by 2.3%