Kyiv-listed equities regained some ground on Thursday (May 28) after
reports that the NBU’s key interest rate, which currently stands at a 15-year
high of 30%, could be cut next month. Cutting the rate should results in
improved access of businesses to credit resources. The UX index rose by 1.1% to
close at 1007 points. Motor Sich (MSICH) led the growth, adding 2.3% to UAH 2630
per share. Azovstal (AZST) and DonbasEnergo (DOEN) climbed by 2.1% and 3.5%
respectively after significant loses earlier this week. On the downside,
UkrNafta (UNAF) edged down 0.4% ahead of the company’s supervisory board
meeting scheduled for today, with the intention to call a general shareholders’
meeting under new legislation that allows the government to replace the
company’s management. In London, Ferrexpo (FXPO) was unchanged near GBp 72 while
MHP (MHPC) added 1.8%, recovering some more ground after its sharp slide early
in the week ahead of its 1Q15 financial release. Warsaw-listed Ukrainian stocks
rallied, with Astarta (AST) surging 8.5% to PLN 28.10 and Kernel (KER) advancing
3.0% to PLN 38.40 after posting solid EBITDA for 1Q15.
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