EAVEX Weekly

August 14, 2017

Ukrainian equities did not escape a broad correction in global stock markets last week triggered by intensified tensions between the US and North Korea that sent the main equity indices into decline for five days in a row. In Ukrainian internal developments, the National Bank launched a public consultation on the legislative amendments required for foreign currency market liberalization. The new model of currency regulation should make the repatriation of capital easier for foreign investors. Ukraine’s capital controls, which were imposed back in the crisis period of 2014, are due to be relaxed in a gradual manner, although no exact timing was announced. The UX index shed by 1.0% to 1128 points on light trading activity in the heart of the summer vacation period. The best performer among the five UX blue chips was Raiffeisen Bank Aval (BAVL), which reached 27 kopecks after the bank reported 1H17 earnings per share of 4.45 kopecks in late July. Electricity stocks were mixed last week