EAVEX Weekly

December 21, 2020

Ukrainian equities listed in Kyiv were mostly higher for the week, leading to a 1.1% gain for the UX index to 1527 points. Quotes for CentrEnergo (CEEN) rose by 3.7% to UAH 7.00 per share, ignoring information that the company faced a fire accident at its Zmyivska Power Plant located in Kharkov province. The company reported that it has solved the problem and will perform additional inspection of technological equipment at Zmyivska TPP. The country’s largest oil producer UkrNafta (UNAF) enjoyed a 4.8% increase to UAH 175 per share amid rallying global crude prices, and more importantly, news that the Finance Ministry has distributed part of the funds in the three-sided transaction between the government, NaftoGaz and UkrNafta that effectively bails UkrNafta out of its huge accrued tax debt. On the downside of the UX index basket, Raiffeisen Bank Aval (BAVL) slipped by 2.4% to end at 40 kopecks on the nose.