EAVEX Weekly

July 17, 2017

Kyiv-listed Ukrainian stocks finished mixed last week after initial buying momentum turned into a correction. The news flow was generally neutral, with most domestic headlines dedicated to developments in Parliament. One of big events was a motion submitted by Prosecutor General Yuriy Lutsenko on granting consent to bring criminal charges against six lawmakers MPs from various political parties. The motion related to separate corruption cases. In particular, two lawmakers are suspected by the National Anti-Corruption Bureau (NABU) of taking bribes worth USD 310,000 for illegally allowing amber production. Protesters gathered outside the Parliament building to demand the creation of a special court to try graft cases and accusing President Poroshenko and his allies of dithering on legal reforms. Authorities in Ukraine are still able to use the threat of prosecution in crooked courts as leverage over rivals.