Local Ukrainian stocks rebounded on Friday (Nov 14) due to short
covering purchases after the the UX index’s Monday-to-Thursday plunge from 1090
to 930 points. The indicator regained 3.0%, finishing at 990 points. UkrNafta
(UNAF) jumped by 7.0% to UAH 231 per share, while heavyweights Motor Sich
(MSICH) and CentrEnegro (CEEN) advanced by 1.8% and 3.3% respectively. Avdyivka
Coke (AVDK) was the only blue chip loser, slipping 0.5% to UAH 1.93. Among
second-division stocks, Poltavsky GOK (PGOK) rose by 2.7%, receiving a boost
from news that the company’s majority owner Ferrexpo won a court case against
previous owners. In London, the shoe finally dropped for Avangard (AVGR), which
plummeted by 17.7% to an all time low of USD 4.85. Warsaw-listed Ovostar (OVO)
was unchanged at PLN 72.5 after the company reported better-than-expected 3Q14
results, and Kernel (KER) edged up 1.0% to PLN 23.40.
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