EAVEX Weekly

January 11, 2021

The UX index, Ukraine’s main equity benchmark, opened 2021 with a decline of 2.5% to finish the holiday-shortened first trading week of the year at 1576 points. The latest National Bank business sentiment survey showed that the country’s entrepreneurs are quite pessimistic regarding the pace of economic recovery in 2021. Among the UX basket components, UkrNafta (UNAF) slipped 1.6% to UAH 187 per share after newly appointed acting Energy Minister Yuriy Vitrenko announced his intention to transfer the government’s controlling stake in UkrNafta from state-owned NaftoGaz to the Energy Ministry. The news raised uncertainty regarding the possibility of splitting UkrNafta into separate oil and natural gas business divisions.