Ukrainian blue chips were mixed on Thursday (May 16), with a late-session bump pushing the main benchmark into marginally positive territory. Turnover continued to be among the lowest in the history of the Ukrainian Exchange; although a recent article in the Commersant business daily claimed that the UX has been overtaken by other exchanges in terms of volume, we doubt that the majority of the non-UX volume represents actual equity trading activity. The UX index finished at 817 points, a gain of 0.3%. Motor Sich (MSICH) and Raiffeisen Aval (BAVL) both snapped 4-session losing streaks, adding 1.0% and 1.5% respectively on combined turnover of UAH 3.8mn. On the downside, Azovstal (AZST) shed 0.5% and Alchevsk Steel (ALMK) slipped 0.7% to 4.28 kopecks.
In London, MHP (MHPC LI) slid 2.9% to USD 17.60, while JKX Oil & Gas (JKX LN) was hammered by investors for failing to show an improvement in its Ukrainian gas output in 1Q; the stock slumped 10.7% to GBp 60.
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