EAVEX Weekly

March 10, 2020
 

Ukrainian equities listed in Kyiv were unaffected by the corona-virus panic on international markets on Monday (Mar 9), as domestic trading platforms were closed due to the local Women’s Day holiday. Last week, stocks remained in a low volatility mode amid dry liquidity on the both the Ukrainian Exchange and PFTS Exchange. In domestic political developments, President Zelenskiy reshuffled the government, forcing Oleksiy Honcharuk to resign as prime minister after only 6 months in office, and appointing former Ivano-Frankivsk provincial governor Dennis Shmygal in his place. Prosecutor General Ruslan Ryaboshapka was also fired by Parliament at Zelenskiy’s direction. Both events were perceived as attempts by Zelenskiy to shore up his own sliding approval rating, which is down from 73% to 52% in the last two months, according to polling conducted by the Kyiv Institute of Sociology (KIIS). The most actively traded issue, Raiffaisen Bank Aval (BAVL), declined by 1.8% to 37.30 kopecks, and Uk