EAVEX Weekly

April 23, 2018

Ukrainian locally-listed stocks saw fresh gains last week, spurred by bets on high corporate profits for the first quarter. The earnings season has not yet begun in Ukraine but traders were ready to increase their long positions amid the ongoing global bull run in equities. The UX index climbed 0.9% to end at 1818 points. Raiffeisen Bank Aval (BAVL) was the growth leader among the six index components, rising 2.5% to 36.90 kopecks ahead of the bank’s annual shareholders meeting. Raiffeisen International, the dominant shareholder, is expected to push through a 7-kopeck dividend payout from FY17 profit. CentrEnergo (CEEN) edged down 0.3% to UAH 21.00 while Motor Sich (MSICH) added 1.4% to UAH 5475 per share. UkrNafta (UNAF) managed to stay at the UAH 114 level despite the company’s ongoing battle with the government’s State Geological Service regarding the renewal of its drilling licenses. Power engineering blue chip TurboAtom (TATM) picked up 3.0% to UAH 14.60 after the company’s shareh