EAVEX Weekly

March 07, 2017

Ukrainian equities listed in Kyiv finished mixed last week as local traders continued to focus on the government’s compliance with the IMF program, where good news arrived over the weekend about the likelihood of a new loan installment. Although the scheduled USD 1bn tranche has been delayed since December, the IMF completed its recent review and sent Kyiv the final wording of the memorandum. This means that after the document is signed, the money’s arrival will be almost a done deal. Another widely discussed topic was media reports about the likely resignation of National Bank Governor Valeria Gontareva. Although Gontareva’s departure from the NBU had been rumored in previous years, this time we see the probability of resignation as higher amid a feeling that her nearly-3-year tenure has run its course. The UX index gained 2.6% to close at 956 points, driven by UkrNafta (UNAF), which was a star performer for the second week in a row. The stock jumped 11.3% to UAH 138 after informatio