EAVEX Weekly

June 27, 2017

Ukraine’s equity market enjoyed firm growth last week on the back of better-than-expected data for domestic industrial production and retail sales. UkrStat reported that industrial output rose by 1.2% YoY in May and that retail sales jumped by 10.7% YoY in the same period. In positive political news, President Poroshenko met with US President Trump and Vice President Michael Pence as part of a 36-hour diplomatic blitz in Washington on Jun 20. Later in the day, Trump’s spokesman Sean Spicer said explicitly that the US wants Russia out of Eastern Ukraine. Kyiv has been concerned that Trump’s administration may cut a deal with Moscow to end the Donbass conflict on terms disadvantageous for Ukraine, so Poroshenko’s meeting with Trump looks rather successful in the area of maintaining positive US engagement.