Local Ukrainian stocks extended their recent hot run into the new
week on Monday (Jul 28), riding a big gain in national flagship oil company
UkrNafta further into territory not seen since early 2012, while the main
indices in the US and Europe were mixed to flat. The UX index jumped 3.0% to
close at 1345 points, with all 10 UX basket components ending higher. UkrNafta
shot up by 12.7% to UAH 328 on reports that the company could hold its first
shareholder meeting in more than three years as soon as this September, with a
large dividend payout likely to be on the agenda. Azovstal, located in the
government-controlled Donbass city of Mariupol, also continued to rally, picking
up 4.7% to above 91 kopecks, and volume leaders Motor Sich and CentrEnergo added
2.9% and 2.7% respectively. Raiffeisen Aval’s gain of 1.0% was the smallest of
the day among blue chips. In London, MHP recovered some territory from last
week’s big losses on concerns about a scaling back of Ukraine’s special tax
regime for big agro producers, picking up 4.3% to USD 13.30.
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