EAVEX Weekly

April 01, 2019

The Ukrainian equity universe remained in a turbulent mode amid political uncertainty due to the unpredictable presidential election in the country; voting on Sunday (Mar 31) showed that President Poroshenko will advance to the Apr 21 runoff round as an underdog against Eastern Ukrainian entertainment mogul Vladimir Zelenskiy. The PFTS index, which tracks seven Kyiv-listed stocks, advanced by 3.6% to 573 points, thanks to a gain of 32% in UkrNafta (UNAF). The stock surged to UAH 192 after the company unveiled a preliminary net profit of UAH 122 per share for FY18 and proposed a dividend payout of 50%. On the downside, Raiffeisen Bank Aval (BAVL) shed 3.0% to 36.70 kopecks after the bank proposed a 70% dividend payout from FY18 profit, well short of the bank’s recent history of 95% payouts. Still, the proposed dividend of 5.79 kopecks per share implies a hefty dividend yield of 16%. In the utility sector, DonbasEnergo (DOEN) declined by 3.3% to UAH 28.00 per share and CentrEnergo (CEEN)