EAVEX Weekly
Ukraine’s PFTS equity index was on the rise last week, adding 0.7% and closing at 509 points. The National Bank’s decision to slash its main refinancing rate by an enormous 250 basis points from 13.50% to 11.00% had a positive impact on local stocks, despite the regulator’s benchmark rate is still higher than the yield on the government’s 1-year treasuries, which stands at 10%. In general, the National Bank continues to ease its monetary policy with the aim of maintaining inflation at the target level of 5% and supporting steady economic growth. Current expectations are that the key rate will be lowered to 7% by the year-end. The next meeting of the NBU Board on monetary policy issues is due on Mar 12. In individual stocks, Raiffeisen Bank Aval (BAVL) gained 1.2% to 34.70 kopecks while CentrEnergo (CEEN) remained at UAH 8.53 per share. Quotes for UkrNafta (UNAF) moved up by 1.7% to UAH 147 after the company reported that its oil extraction increased by 4.7% YoY to 1.52mn tonnes (11.1mn
