EAVEX Weekly

October 28, 2019

The Ukrainian PFTS equity index inched up by 0.1% to 522 points last week, showing no reaction to the National Bank’s decision to cut the country’s key interest rate from 16.5% to 15.5%. The main refinancing rate was lowered after the latest inflation data showed a slowdown in consumer price growth to 7.5% YoY in September. In individual blue chips, CentrEnergo (CEEN) rose 2.3% to UAH 9.92 per share after the government floated the idea of privatizing the company in tandem with some state-owned steam coal mines. Nevertheless, CentrEnergo has not reported its 3Q19 earnings, which could bring either positive or negative surprises. Raiffeisen Bank Aval (BAVL) edged lower by 1.6% to 31.00 kopecks. On the upside, UkrNafta (UNAF) added 0.7% to UAH 146, remaining in a wide bid/ask spread. The company said that its September oil output figure remained on a rising trajectory, with daily average crude extraction increasing by 4.9% YoY in the period.