Kyiv-listed Ukrainian equities were solidly higher on Friday (Jul
25), driven by positive 2Q financial reporting news flow on two of the most
actively-traded local issues, Motor Sich and DonbasEnergo. The gains occurred
despite significant losses in the main European indices in Frankfurt and Paris,
both of which were down by more than 1%, and the S&P 500 also pulled back by
half a percent in New York. The UX index added 2.0% to move above the 1300 point
level for the first time since early 2012 (the index’s value is however still
substantially lower than then, due to this year’s UAH devaluation.) DonbasEnergo
added 5.2% and Motor Sich picked up 4.9% to UAH 2712 after both companies
reported impressive bottom lines for the second quarter. UkrNafta was also a
winner, rising in line with the index to UAH 295, while CentrEnergo once again
retreated from the UAH 8 resistance barrier, declining by 1.0%. In London, MHP
rebounded slightly off of its nasty double-digit losses from the previous two
sessions, rising 1.9% to USD 12.75.
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