Kyiv-listed blue chips were moderately higher on Friday (Jul 31) amid
a cautiously optimistic mood ahead of the expected positive IMF decision on
disbursement of a new USD 1.7bn loan tranche to Ukraine. The decision was not
fully priced in by the market, as the announcement came after the local market
closure. The UX index added 0.5% to end the week and the month at 976 points.
Avdyivka Coke advanced by 1.8%, approaching UAH 1 after its big plunge at the
beginning of last week. Steel sector names were mixed. Alchevsk Steel was
unchanged despite news that the company will restart its long-idled second blast
furnace in the coming days. Azovstal increased by 1.3%, while Yenakievo Steel
was the day’s worst UX basket performer, falling by 2.8%. Volume leader UkrNafta
edged up 0.5% to UAH 284. In London, Ferrexpo (FXPO) slipped 1.3% and Avangard
declined by 4.1%, moving closer to its all-time low of one dollar. In Warsaw,
Kernel finished essentially unchanged at PLN 43.80.
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