Oil and gas
July 14, 2008Ukrnafta: mental vs. fundamental
Ukrnafta did not pay dividends in early summer 2007, contrary to expectations, and is in the midst of a shareholder conflict, upsetting investors. The stock behaved as a PFTS index dummy for most of 2008 (see right), ignoring roaring oil prices and Ukrnafta’s own profits. The 2Q08 results will remind investors once again that these are fundamentally good times for the business.