EAVEX Weekly

December 26, 2017

The most liquid Ukrainian stocks extended their year-end rally last week, rising on expectations of higher corporate profits and possible dividends. The UX index advanced by 3.0% to finish at 1337 points, bringing its rise for 2017 to 68%. Aviation engine producer Motor Sich (MSICH) was the biggest gainer in the 5-stock blue chip basket, surging 10% to UAH 3630 per share after news that the company has received an order for light helicopters from the Emergency Ministry. Although the announced order will account for just 5% of the company’s expected order book for 2018, this demonstration of Motor Sich’s ability to fully assemble helicopters in-house impressed investors. The shares of electricity generator CentrEnergo (CEEN) separated themselves from the UAH 12 level, adding 2.0% to UAH 12.26. Meanwhile, UkrNafta (UNAF) disappointed again, falling 2.7% to UAH 135 after unconfirmed media reports that the company paid out dividends to controlling non-government shareholder Privat Group