Ukrainian stocks rallied moderately in the afternoon on Thursday (Aug
22) as global markets perked up on positive economic data from the Eurozone
which suggested that the European economy is finally on its way to returning to
growth; the Frankfurt and Paris indices posted their best daily gains since
early July. Chinese manufacturing numbers also contributed to the impression
that the global economy is improving. The UX index edged up by 0.3% to close at
863 points, with the top liquid names finishing mixed. Newly-privatized
DonbasEnergo was the biggest mover, adding 1.2%, and CentrEnergo and Azovstal
both picked up half a percent. On the downside, Alchevsk Steel sank deeper into
all-time-low territory, dropping 0.8% to 3.86 kopecks, and Avdyivka Coke shed
0.6%. In London, Ferrexpo, Ukraine’s most liquid equity issue, rebounded by 5.1%
to GBp 185 on Chinese-based optimism, while MHP was nearly unchanged at USD
15.95.
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