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Friday, August 27, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets reversed to gains Thursday (Aug. 26), pulled up by positive news from global markets. The UX exchange traded in the black throughout the session, adding 0.97% on a moderate trading volume of UAH 78 mln. Blue chips were on a roll led by Motor Sich (MSICH +2.43). Metals and mining stocks kept the pace (ALMK +1.42%, AVDK +1.45%, AZST +0.92%, ENMZ +1.24%, YASK +2.34%). Banks gained ground with Raiffeisen Bank Aval (BAVL) adding 1.02% and Ukrsotsbank (USCB) rising 1.5%. Centerenergo (CEEN +0.84%), Ukrnafta (UNAF +0.79%) and Ukrtelecom (UTLM +1.08%) also got a lift from the market’s broad advance, while Zakhidenergo (ZAEN -0.08%) was the only blue chip to close in the red.

Ukrainian stocks listed on international exchanges closed mixed. Astarta (AST PW +3.54%) was the stock of the day as sound financials attracted investors. Kernel (KER PW +2.44%), Cadogan (CAD LN +1.52%) and JKX Oil & Gas (JKX LN +0.97%) were also in demand, while Regal (RPT LN -3.03%) came under selling pressure and Ferrexpo (FXPO LN -0.07%) dipped slightly.

Moderate action was observed on the Ukrainian Eurobond space Thursday. Sovereigns and NAFTO traded marginally stronger. The corporate sector saw two-way flows with better bidding for MHPSA and PRBANK. Bidders also prevailed for municipal issues and ALFAUA, which closed without any price change on the day.

The Russian market traded generally flat during the session. The Belorussian sovereign was under selling pressure, trading more than 1 p.p. lower.

Oil & Gas: Cadogan reports 1H2010 results
Oil & Gas: Ukrnafta shuffles state representatives on supervisory board

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