EAVEX Weekly

February 04, 2019

Ukrainian stocks demonstrated notable growth last week after the National Bank estimated that the country’s economic growth reached 3.3% in full-year 2018, which was more rapid than in any of the past seven years. However, real GDP growth will slow to 2.5% this year, according to the NBU’s new forecast. London-listed Ukrainian companies were the best performers in the country’s equity universe. Ferrexpo (FXPO) rocketed higher by 30% to GBp 262 per share amid rising iron ore demand, and sporadically-traded MHP (MHPC) moved up 4.8% to USD 10.85. Kyiv-listed equities had a less impressive increase, with UkrNafta (UNAF) adding 1.5% to UAH 135 and Raiffeisen Bank Aval (BAVL) rising 1.4% to 34.90 kopecks. Both CentrEnergo (CEEN) and DonbasEnergo (DOEN) remained little changed at UAH 14.40 and UAH 33.00 per share respectively. The Ukrainian Exchange, which has been closed to trading since last June due to regulatory issues, has stopped calculating the UX index, leaving the local market witho