Ukrainian stocks sprang to life on Friday (Jun 7) afternoon, turning around what had been a sluggish session, after global risk appetite jumped on the release of US jobs numbers that were viewed as not strong enough to roll back the Federal Reserve’s monetary stimulus policy. The markets’ behavior shows that global demand for equities, as well as other risk assets such as emerging market sovereigns, is still being driven by expectations about the Fed’s intentions rather than by economic fundamentals. The UX index rose 1.0% to close at 856 points. Alchevsk Steel (ALMK) stood out from the crowd with a 3.3% gain, and CentrEnergo (CEEN) added 1.3% to UAH 4.44. Volume leaders Motor Sich (MSICH) and Yenakievo Steel (ENMZ) combined to print UAH 5.8mn in deals while picking up 0.7% and 1.1% respectively. Second-tier issues saw very limited action.
In Warsaw, Astarta (AST PW) rallied by 1.9% to reach a fresh 3-month high just below PLN 65, while Avangard (AVGR LI) edged up by half a percent in London.
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