Ukrainian stocks rebounded on Monday (Apr 8), with the UX index appearing to have found a floor of support above 800 points after a protracted 6-week slide, and sentiments bolstered by positive headlines following the release from jail of opposition politician Yuriy Lutsenko over the weekend. The local benchmark added 1.2% to close at 823 points despite flat indices in Frankfurt and Paris. Yenakievo Steel (ENMZ) was the top blue chip performer, adding 3.2% to UAH 34.90, and beaten-down CentrEnergo (CEEN) gained 2.4% to get back above the UAH 4 level. Metinvest-controlled metallurgy issues Avdyivka Coke and Azovstal picked up 1.5% and 1.2% respectively, while volume leader Motor Sich moved 0.8% higher on turnover of UAH 5.1mn. Among blue chips, only UkrNafta continued to lose ground, dipping 0.9%, while outside the UX basket, Stirol’s hard selloff resumed with a 6.0% drop to UAH 11.30.
In London, most Ukrainian names saw buying interest after across-the-board losses to end last week; Avangard jumped 5.0% to USD 8.08, and MHP and JKX Oil & Gas posted respective gains of 2.0% and 2.9%
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