EAVEX Weekly

October 05, 2020

Kyiv-listed stocks rose last week, spurred by expectations of better liquidity on the market after the government became more active in its intention to attract foreign investments into the country. Meanwhile, on the macroeconomic side, the EBRD forecasted that Ukraine’s GDP will drop by 5.5% YoY this year with a rebound of 3.0% YoY in 2021. Earlier in May, the EBRD had projected a GDP contraction of 4.5% YoY in 2020 with growth of 5.0% next year. The UX index advanced by 3.2% for the week to close at 1330 points. UkrNafta (UNAF) added the most points to the gauge, rising 5.8% to UAH 127 per share. The UNAF stock saw speculative buying momentum ahead of voting in Parliament on the company’s tax debt repayment scheme. On Sept 30, Parliament refused to consider the bill after preliminary voting fell short by only 2 votes on including the bill in the session agenda.