People Following Jon's Blog

My Latest Tweet @

Monday, August 16, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed in the black Friday (Aug 13). The UX exchange jumped more than 25 points from the opening, pushed up by positive sentiment emanating from global markets. The exchange lost momentum by mid-session, however, and finished only 0.56% higher. Total trading volume was moderate at UAH 65 mln. Stocks closed broadly higher with Azovstal (AZST +3.07%) leading the way up. Most metals and mining stocks outperformed the market: ALMK +1.72%, AVDK +0.96%, ENMZ +1.02%, YASK +0.39%. Banks (BAVL +1.92%, USCB -0.13%) and GenCos (CEEN +0.44%, ZAEN -0.09%) showed mixed dynamics, while other blue chips including Motor Sich (MSICH +1.58%), Ukrnafta (UNAF +0.36%) and Ukrtelecom (UTLM +0.08%) followed the positive trend.

Among Ukrainian stocks listed on international exchanges, oil and gas names posted solid gains: Cadogan (CAD LN) edged up 1.49%, JKX Oil & Gas (JKX LN) added 1.75% and Regal (RPT LN) grew 3.82%. Ferrexpo (FXPO LN) dropped 0.28%. Warsaw-listed stocks closed mixed with Astarta (AST PW) rising 3.06% and Kernel (KER PW) sliding 2.52%.

Activity on the Ukrainian Eurobond market was expectedly sluggish Friday. However, Sovereigns bucked the trend, falling significantly on a flurry of trading recorded in the first half of the session. Quasi-sovereigns also lost a half a point on the day. UKRSIB was the only bond in the Ukrainian universe to add in price.

Macro: Ukraine’s government releases economic forecasts
Fixed Income: Government to increase capital of Naftogaz Ukrainy
Metals and Mining: ALMK to double production in August

No comments:

Post a Comment