EAVEX Weekly

August 28, 2017
 

Ukrainian stocks finished slightly higher in the short Monday-to-Wednesday (Aug 21-23) trading week ahead of the long Independence Day weekend. Although the news flow was dry, traders were in no rush to increase their long positions in the five remaining UX index components. The latest macroeconomic data said that Ukraine’s manufacturing sector output rose by 2.5% YoY in July. On the other hand, the backbone of the country’s industry - the steel sector - remained weak, with steel production contracting by 4.9% YoY in July due to Donbass separatist-related factors. The UX index edged up 0.4% to close at 1130 points. Electricity names held the gauge back, with CentrEnergo (CEEN) and DonbasEnergo (DOEN) losing 1.4% and 1.7% respectively. The CEEN stock dipped below UAH 11 per share to close at UAH 10.95. Negative news for the sector was that yet another attempt by the government to auction off blocking stakes of 25% in OdessaOblEnergo (SOEN), and DonbasEnergo (DOEN)