Kyiv-listed
equities were broadly lower on Thursday (Jul 24), although a large rise in
national flagship oil producer UkrNafta allowed the UX index to end the day
unchanged at 1280 points. Externally, the S&P 500 continued to press slowly
into new record-high territory, hovering just below the intimidating 2000-point
barrier amid better-than-expected corporate earnings and a lack of any bad news
to drive a correction. UkrNafta gained a massive 11% on elevated volume of UAH
5.5mn as speculation again fired up about a multi-year dividend payout.
Meanwhile, the decline was led by Raiffeisen Aval, which lost 1.9% after posting
worse-than-expected 2Q financials, and Alchevsk Steel was down 2.2% to 3.57
kopecks. Among second-tier names, Stirol and LuganskTeplovoz, two companies
whose operations have been shut down by the Donbass war, declined by 7.0% and
13.7% respectively, with the latter ending at UAH 1.25. In London, MHP got
hammered, slumping 10.9% to USD 12.50, bringing its 2-day fall to more than 16%.
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