EAVEX Weekly

November 23, 2020

The UX index advanced by 3.1% to 1417 points last week as local traders found some optimism from President Zelenskiy’s re-engagement with the IMF following his constructive phone conversation with IMF Managing Director Kristalina Georgieva. Zelenskiy said Ukraine has not stopped fulfilling its obligations under the current stand-by loan program, singling out reforms of the customs and tax bodies within the Finance Ministry. He said the National Bank is actively working to reduce the share of non-performing loans in the banking system. Kyiv-listed blue-chips all finished in positive territory. CentrEnergo (CEEN) rebounded by 8.8% to UAH 6.15 after its correction seen a week earlier. Raiffeisen Bank Aval (BAVL) rose 3.9% to 39.50 kopecks and DonbasEnergo (DOEN) surged by 14% to UAH 21.75. A separate growth driver was for UkrNafta (UNAF) as the offer side of quotes for UNAF stock jumped by 15% to UAH 160 after the Parliament adopted a special bill aiming at resolving UkrNafta’s huge tax d