EAVEX Weekly

November 21, 2016

Ukraine’s domestic equity market took a beating last week amid rising political risks set in motion by the shock defeat of establishment candidate Hillary Clinton in the US presidential election earlier this month. Batkivschyna opposition party leader Yulia Tymoshenko appeared to be using the situation by backing Tuesday’s (Nov 15) large anti-government protest in central Kyiv, which was aimed against National Bank chief Valeria Gontareva as well as the country’s IMF-mandated market reforms. Although the aggressive protest involving several thousand people at the NBU’s headquarters in Kyiv was dismissed by the government as a “paid-for” rally, the events were widely covered on national television, with some local analysts opining that this was a program masterminded by Moscow. Main streets in central Kyiv were closed due to security concerns.