EAVEX Weekly

December 16, 2019

Kyiv-listed Ukrainian stocks were mixed last week, with the PFTS index closing virtually unchanged at 510 points on Friday (Dec 13). Political news flow from the Normandy summit in Paris on Dec 9, where Ukraine and Russia agreed on a new ceasefire and prisoner exchange, had no impact on the local stock market. As generally expected, no major breakthroughs were achieved between Kyiv and Moscow on resolving the Donbass conflict in Eastern Ukraine. The Normandy Format meetings address the Donbass situation but not Russia’s annexation of Crimea, which is not recognized by most of the international community. In individual stocks, UkrNafta (UNAF) rose 1.4% to UAH 144 per share after the government’s failed attempt to increase the tax on LPG fuel. Although LPG is only a small part of UkrNafta’s business, this was nonetheless a positive development for the company. In the utility sector, CentrEnergo (CEEN) climbed by 1.8% to UAH 9.26 while DonbasEnergo (DOEN) declined by 0.9% to UAH 25.22.