EAVEX Weekly

October 21, 2019

Ukrainian equities listed in Kyiv finished mixed last week, with a report that the World Bank improved its forecast for the country’s economic outlook having no impact on investors’ mood. The World Bank raised its projection for Ukrainian GDP growth from 3.0% to 3.7% for 2020. The new projections from the reputable financial institution are still substantially below what Prime Minister Oleksiy Honcharuk announced as the goal of achieving 40% GDP growth over five years: 5% in 2020, 7% each in the next four years. The PFTS index edged down by 0.8% to 522 points as losers outweighed gainers among the gauge components. Raiffeisen Bank Aval (BAVL) provided the most support to the index, rising 2.9% to 31.50 kopecks on expectations of a solid 3Q earnings report which could appear this Friday, and TurboAtom (TATM) added 1.9% to UAH 10.80 per share. On the downside, UkrNafta (UNAF) dropped by 4.0% to UAH 145 after the company was able to sell only part of its extracted crude oil at its Oct