Ukraine’s stock market enjoyed its best day in three months on Monday (May 20), picking up where it left off on Friday afternoon and finally making up some ground on the main European indices. The UX index broke out of the long sideways trend that had predominated since the start of April, gaining 3.4% to close at 857 points. All 10 blue chips finished in positive territory, with CentrEnergo (CEEN) leading the pack on a 6.9% jump to UAH 4.34. Steelmakers Azovstal (AZST), Alchevsk (ALMK) and Yenakievo (ENMZ) each added 3.0%, as did Motor Sich (MSICH), which ended at a 7-week high of UAH 2099. Avdyivka Coke (AVDK), which had rallied sharply on Friday, saw the smallest rise in the UX basket at 0.6%. Although volumes recovered from last week’s slump to near the 2013 average, activity in second-tier issues was again very limited. In London, MHP (MHPC LI) slipped back 2.7% to USD 18.25 after its 6% gain on Friday, while in Frankfurt, shares of sporadically-traded TMM Real Estate (TR61 GR) moved down 16.1% to EUR 0.35.
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