EAVEX Weekly

September 07, 2020

Local Ukrainian stocks were mixed last week, with the UX index inching up by 0.2% to 1320 points. The rebound of 9.0% to UAH 7.90 in TurboAtom (TATM) balanced a decline of 1.2% in more heavily weighted Raiffeisen Bank Aval (BAVL), which ended the week at 41.00 kopecks. Both CentrEnergo (CEEN) and UkrNafta (UNAF) were unchanged at UAH 5.20 and UAH 123 per share respectively. Motor Sich (MSICH) was back in the spotlight after the country’s Anti-Monopoly Committee rejected the application filed by Chinese firm Skyrizon in partnership with Kharkiv-based oligarch Olexander Yaroslavskiy to acquire a controlling stake in the aviation engine producer. Yaroslavskiy complained about strong-arm political pressure concerning the Motor Sich deal after the United States publicly objected to China’s participation in it. Yaroslavskiy appealed to President Zelenskiy to intervene in the situation, asking him to make a “statesman-like decision that will preserve Motor Sich for Ukraine and will meet the n