EAVEX Weekly

May 02, 2019

Ukrainian equities reacted positively last week to fresh macroeconomic data showing a firm recovery in the country’s industrial production data. The PFTS index added 5.0% to close at 560 points. An additional driver for stock price growth came from the National Bank’s decision to lower its key refinancing rate from 18.00% to 17.50%, which is the first rate cut in two years. In individual stocks, DonbasEnergo (DOEN) advanced by 7.2% to UAH 29.70 after the company approved a UAH 1.32 per share dividend from its FY18 net profit. The company also confirmed its strategic plan to modernize one of its power units at the Slavyansk plant by 2022. CentrEnergo (CEEN) gained 4.1% to UAH 12.60, following the general upward momentum on the market. Meanwhile, quotes for UkrNafta (UNAF) remained in a wide bid/ask range of UAH 140-167 per share after the government majority shareholder blocked a proposal to distribute a portion of the impressive FY18 net profit of UAH 119 per share (UAH 6.4bn) at a m