Ukraine’s
benchmark index moved sharply higher Tuesday (Apr 1) on dividend rumors
concerning two of the most actively traded local blue chips, while global
markets continued to return to their juggernaut form of the past two-plus years
following an apparent easing of the Russian-Ukrainian standoff and the attendant
geopolitical tensions. The UX index jumped 5.7% to close at 1077 points.
Raiffeisen Aval added 9.3% on the back of rumors that it will announce a
3-kopeck dividend on Apr 25, which would imply a dividend yield near 17%, the
increment by which the issue has risen in the past two days. Quotes for UkrNafta
jumped 9.1% to UAH 226 after new Naftogaz CEO Andrey Kobolev said that an
UkrNafta shareholder meeting should be held to approve a dividend payout of the
company’s FY11, FY12 and FY13 profit (the Ukrainian government owns 50% of
UkrNafta through Naftogaz). However, no date was set for the meeting, and given
UkrNafta’s recent history of refusing to make the legally required dividend
payouts, there is a chance that today’s news could turn out to be an April
Fools’ joke on the company’s minority shareholders. In other issues, Motor Sich
broke out of its extended slump, picking up 5.5% to UAH 1705, and DonbasEnergo
was up by a solid 4.7%. In Warsaw, Kernel and Astarta appreciated by 5.6% and
2.2% respectively, with the former ending at PLN 31.
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