Local and
foreign-listed Ukrainian stocks were mostly higher on Tuesday (Apr 22) as US
Vice President Joseph Biden completed a 2-day visit to Kyiv in support of the
country’s interim government, during which he suggested that the approval of a
new IMF lending program for Ukraine is imminent and announced several chunks of
targeted US assistance grants. Local equities also benefited from a surprise
government decree that jacked up dividend payouts for state-controlled companies
to 50% from 30%. In Europe, investors in Germany continued to ignore the threats
raised by ongoing Ukrainian-Russian tensions, with the DAX shooting up by 2% to
9600 points, while the S&P 500 rose for a 6th straight session, its longest
such run year-to-date. The UX index added 2.1% to close at 1129 points.
DonbasEnergo was the day’s big winner, gaining 8.0% to UAH 45.85, while top
liquid issues UkrNafta, CentrEnergo, and Raiffeisen Aval each picked up more
than 2%. Volume leader Motor Sich underperformed, slipping 0.8% on turnover of
UAH 2.8mn. In Warsaw, Kernel and Astarta appreciated by 4.3% and 3.1%
respectively, and Ferrexpo was up 3.2% in London to GBp 155.
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