EAVEX Weekly

May 21, 2019

Ukrainian stocks saw a mixed performance last week amid a turbulent situation on global financial markets caused by the US-China trade conflict. In local economic news, Ukraine’s GDP grew by 2.2% YoY in 1Q19 according to preliminary estimates. The growth remains considerably slower than most investors anticipated two or three years ago when the reform agenda should have been help to improve the business climate. The PFTS index was little-changed, inching down by 0.2% to close at 571 points on Friday (May 17). CentrEnergo (CEEN) and Raiffeisen Bank Aval (BAVL) finished in negative territory, losing 3.5% and 1.3% respectively. CentrEnergo stock was hit by news that the company had a net loss of UAH 110mn in April amid low thermal electricity tariffs in the period.