EAVEX Weekly

December 07, 2020

Stocks traded on the Ukrainian Exchange had a mixed performance last week. The main focus of market players was on corporate news, with UkrNafta (UNAF) in the spotlight amid the government’s move to forgive the company’s huge tax debt. The UNAF stock jumped by 12% to UAH 179 after the special bill which aims to clean the company from the tax debt by compensating it for past natural gas confiscations was signed by President Zelensky. In the utility sector, CentrEnergo (CEEN) added 5.6% to UAH 6.60. On the downside, Raiffeisen Bank Aval (BAVL) slipped by 2.4% to 40 kopecks after news that the country’s banking sector as a whole saw a 23% drop in net profit in 10M20. The UX index gained 3.2% for the week to close at 1515 points on Friday. In political developments, there was a surprising statement from Turkish Foreign Minister Mevlut Cavusoglu that Turkey is willing to support the Russia-annexed Crimean peninsula’s return to Ukraine. The statement appears to be connected with the current