EAVEX Weekly

October 02, 2017

Ukraine’s domestic stock market got a boost last week after several encouraging corporate announcements. First of all, the country’s largest oil company UkrNafta finally received an extension of 9 of its core production licenses. Also there was news about increased activity on Ukraine’s M&A market involving foreign investors, and we believe that investors are starting to see more reasons for optimism about economic growth. The latest UkrStat statistics back such assumptions, with output in the manufacturing sector surging by 5.6% YoY in August. On the political front, however, Ukraine once again made negative global headlines after a huge arms depot storing missiles caught fire in Vinnytsia province, forcing large evacuations of the local population in what looked like a clear case of sabotage.