Local Ukrainian stocks were higher on Thursday (Jan 30), underpinned by speculative growth in national flagship oil company UkrNafta and renewed momentum in the UX’s best performing issue over the last three months, newly-privatized DonbasEnergo. Externally, the main US indices enjoyed a strong rebound after selling off sharply earlier in the week. The UX index added 0.8% to finish at 887 points. UkrNafta, which owes its shareholders a multi-year dividend payout, jumped 5.9% to UAH 123, and DonbasEnergo also added more than 5% to reach a new local maximum. The two issues were the day’s volume leaders and combined for UAH 1.8mn in deals. Index heavyweights Motor Sich and CentrEnergo, which together account for 40% of the UX basket, were up by 0.5% and 1.0% respectively. Raiffeisen Aval lost 2.0% to 11.18 kopecks after having risen 4% the previous day. The main London-listed issues continued to sell off on elevated Ukraine country risk; MHP slumped 4.6% to USD 15.60 and Ferrexpo was down another 1.9%, bringing its decline from two weeks ago to near 18%.
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