Ukrainian stocks picked up on Monday (May 26) right where they left off at the end of last week, rallying sharply as it appeared that center-right oligarch Petro Poroshenko has won the presidential election outright with some 54% of the vote. Although markets in New York and London were closed for separate holidays, Frankfurt’s DAX responded positively to the news, jumping to a new all-time high within striking range of the 10,000 milestone. The UX index added 4.6% on top of Friday’s 4% gain to close at 1230 points, its highest level UAH-denominated level (although not USD-denominated) since the spring of 2012. Among liquid blue chips, the top gainers were CentrEnergo, which jumped 6.3% to UAH 7.12, and DonbasEnergo, which was up 4.9%; Raiffeisen Aval and UkrNafta also appreciated by more than 4% each. Second-tier issues also moved higher, with Rinat-Akhmetov-controlled names Mariupol Illicha and KrymEnergo rising by 6.1% and 4.7% respectively. Warsaw-listed Ukrainian names also rallied yesterday with Kernel advancing by 12.2% and Astarta rising 7.7%. Milkiland shot up by 24%.
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