The Ukrainian equity market opened the week with growth. The UX exchange closed slightly higher yesterday (July 26), adding 0.67% on encouraging stats out of the US (new home sales proved better than expected). Total volume was moderate at UAH 53.6 mln. Stocks finished a volatile day with modest gains. News that Alchevsk Steel’s (ALMK -3.67%) assets had been distrained pushed the stock lower. Ukrnafta (UNAF) was the stock of the day, climbing 1.28%. A rundown of other notable gainers includes Avdyivka Coke (AVDK +0.45%), Azovstal (AZST +0.59%), Yenakievo Steel Works (ENMZ +0.68%), Ukrsotsbank (USCB +0.6%) and Motor Sich (MSICH +0.91%). GenCos’ gains were less impressive: CEEN +0.34%, ZAEN +0.25%. Prices for Raiffeisen Bank Aval (+0.17%), Ukrtelecom (UTLM +0.08%) and Yasinovskiy Coke (YASK 0.09%) hugged the flat line.

On the London Stock Exchange, Cadogan Petroleum (CAD LN) hit a new high, climbing 6.06%. Regal Petroleum (RPT LN) added 1.54%, while JKX OIL & Gas slipped 0.24%. Low activity was recorded for MHP (MHPC LI). In Warsaw, Astarta (AST PW) gained 0.84% while other food processing stocks closed flat.

Positive sentiment prevailed on the Ukrainian Eurobond market Monday. Long-end sovereigns gained about 0.5 to 1.1 p.p. on the day.Corporates were in steady demand. DTEK and Azovstal managed to gain around a half a point. There was also some activity in EXIMUK and UKRSIB, which added about a quarter point on the day.