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Thursday, October 28, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed in the red on Tuesday (Oct 26). The UX exchange ended 0.14% lower in volatile trading. Activity declined – total volume came to UAH 78 mln. Ukrstosbank (USCB) and Zakhidenergo (ZAEN) were among the biggest laggards losing 1.23% and 1.09% respectively. Metals and mining stocks showed mixed dynamics: ALMK -0.35%, AVDK +0.31%, AZST +0.37%, ENMZ -0.26%, YASK -0.78%. As for other blue chips, Reiffeisen Bank Aval (BAVL -0.05%), Centrenergo (CEEN -0.06%) and Ukrtelecom (URLM -0.15%) lost a minor fraction, while Motor Sich (MSICH +0.53%) and Ukrnafta (UNAF +0.16%) added ground.

Ukrainian stocks listed on international markets closed mixed. Regal Petroleum (RPT LN -6.94%) reversed to losses, other oil and gas names also declined: CAD LN -1.16%, JKX LN -0.5%. Food processing stocks (MHPC LI +1.13%, AST PW +0.47%, KER PW +0.32%) enjoyed investors demand.

Ukrainian Eurobonds were under pressure during the entire session. Sovereigns significantly lost in price. Benchmark Ukraine’20 lost a point and landed at 101.25. Municipal issues traded down. CITKIE’15 closed at 93.25. Corporates also shed lower.


Macro: Total public debt rises to $51.1 bln in September

Wednesday, October 27, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed in the red on Tuesday (Oct 26). The UX exchange ended 0.14% lower in volatile trading. Activity declined – total volume came to UAH 78 mln. Ukrstosbank (USCB) and Zakhidenergo (ZAEN) were among the biggest laggards losing 1.23% and 1.09% respectively. Metals and mining stocks showed mixed dynamics: ALMK -0.35%, AVDK +0.31%, AZST +0.37%, ENMZ -0.26%, YASK -0.78%. As for other blue chips, Reiffeisen Bank Aval (BAVL -0.05%), Centrenergo (CEEN -0.06%) and Ukrtelecom (URLM -0.15%) lost a minor fraction, while Motor Sich (MSICH +0.53%) and Ukrnafta (UNAF +0.16%) added ground.

Ukrainian stocks listed on international markets closed mixed. Regal Petroleum (RPT LN -6.94%) reversed to losses, other oil and gas names also declined: CAD LN -1.16%, JKX LN -0.5%. Food processing stocks (MHPC LI +1.13%, AST PW +0.47%, KER PW +0.32%) enjoyed investors demand.


Macro: The NBU estimates economic growth at 5% Y-o-Y over 9M10
Macro: Current account deficit decreases to $259 mln
Agriculture: Ukrainian grain trader Nibulon suspends procurement of grain

Tuesday, October 26, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed firmer on Monday (Oct. 25) boosted by positive sentiment from the global markets and generally positive financial results in Ukrainian corporate sector. The UX exchange added 1.20% on a solid trading volume of UAH 91.5 mln. Centrenergo (CEEN +3.09%) and Ukrnafta (UNAF +2.69%) outperformed the market and took their place among the top advancers. Coke producers (AVDK +1.15%, YASK +1.66%) also made noteworthy moves. Steel names (ALMK +0.84%, AZST +0.66%, ENMZ +0.47%) posted slim gains along with Reiffeisen Bank Aval (BAVL +0.68%), Motor Sich (MSICH +0.64%) and Ukrtelecom (UTLM +0.04%). Ukrsotsbank (USCB) and Zakhidenergo (ZAEN) bucked the general trend to lose 0.84% and 0.35% respectively.

Most Ukrainian stocks traded on international markets strengthened. Regal Petroleum (RPT LN) took the limelight jumping 16%. Other oil and gas names showed mixed dynamics: JKX Oil & Gas added 0.77%, Cadogan Petroleum (CAD LN) closed flat. MHP (MHPC LI -0.99%) and Ferrexpo (FXPO LN -0.09%) finished little changed. Food processing stocks listed on the Warsaw Stock Exchange advanced: AST PW +2.49%, KER PW +0.98%.

Monday trading was calm. Good demand was observed for sovereigns. Ukraine’20 added half a point. Corporates remained flat. The newly issued Avangard bond lost 1.5 point in price during the trading session.

Fixed Income: Avangardco raises $200 mln in Eurobond offering
Oil & Gas: Ukrnafta reports stronger financials
Banks: VAB Bank records net loss of UAH 93.7 mln in Q3
Banks: Alfa Bank Ukraine shows marginal net profit in Q3
Agriculture: MHP has acquired 100% shares in Ridny Kray, LLC

Monday, October 25, 2010

Daily Market Brief

Market Comment

Trading on Ukrainian equity markets was choppy ahead of the G20 meeting. The UX exchange lost 0.76% on a moderate trading volume of UAH 78 mln. Metals and mining stocks showed the weakest performance: ALMK -2.54%, AVDK -0.89%, AZST -2.10%, ENMZ -1.68%, YASK -2.31%. Investors took a loss on recent gains in banking shares (BAVL -0.87%, USCB -1.67%). Other blue chips were also dragged lower: MSICH -0.33%, UTLM -1.32%. ZAEN -0.59%. Only Centrenergo (CEEN +0.03%) and Ukrnafta (UNAF +0.19%) managed to creep into positive territory.

Ukrainian stocks listed on international markets moved in the opposite direction. Among oils and gas shares, Regal Petroleum (RPT LN) recovered a further 5.09%, Cadogan Petroleum (CAD LN) gained a solid 1.18%, JKX Oil & Gas (JKX LN) slipped 1.03%. Other London-listed stocks eked out small gains: FXPO LN +0.03%, MHPC LI +0.13%. In Warsaw, Astarta (AST PW) inched up 0.14% and Kernel (KER PW) declined 1.37%.


Macro: Foreign direct investments rise 8% over 9M10
Metals and Mining: MMKI to cut purchases of coke at YASK twice in October

Friday, October 22, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets extended gains on Thursday (Oct. 21) fueled by investor’s optimism. Active trading was observed on the UX exchange (+1.65%) – total volume reached UAH 131.5 mln. Stocks rose across the board led by strength in banks (BAVL +2.10%, USCB +3.84%) and coke producers (AVDK +3.28%, YASK +1.24%) Motor Sich (MSICH +1.58%), Ukrnafta (UNAF +1.35%) and Ukrtelecom (UTLM +1.15%) were also among the best performers. Steel names (ALMK +0.55%, AZST +0.86%, ENMZ +1.09%) and GenCos (CEEN +2.50%, ZAEN +0.06%) moved with the overall market trend.

Most Ukrainian stocks listed on international markets closed little changed yesterday. Only Regal Petroleum (RPT LN) added solid gains 1,7% and JKX Oil & Gas (JKX LN) declined 0.99%. Ferrexpo (FXPO LN) inched up 0.06%, MHP (MHPC LI 0.4%), Kernel (KER PW -0.48%) and Astarta (AST PW -0.28%) closed slightly lower.

Ukrainian Eurobonds trading was inactive. Corporates traded slightly lower. PRBANK’15 traded down at 100.125. Sovereigns were higher at the beginning of the day but went lower as well. Ukraine 2020 dropped to 101.875.


Fixed Income: Ukraine’s banks release 3Q10 financials
GenCos: Donbassenergo reports net loss of UAH 4 mln in 3Q 2010
Metals and Mining: North Ore Mining and Processing Plant to decrease output in October-November

Thursday, October 21, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets moved higher on Wednesday (Oct 20) rebounding after the steep losses of previous sessions. The UX exchange advanced 1.48% led by gains in banking (BAVL +3.78%, USCB +1.84%) and energy stocks (CEEN +2.57%, ZAEN +2.46%). Trading volume was relatively high at UAH 109 mln. Metals and mining companies also fueled the broader market: AVDK +0.97%, AZST +0.95%, ENMZ +1.12%, YASK +0.37%. Motor Sich (MSICH +1.59%) and Ukrnafta (UNAF +0.89%) moved along with the broader market, while Alchevsk Steel (ALMK -0.28%) and Ukrtelecom(UTLM -0.23%) were among few stocks that closed in the red.

Ukrainian stocks listed on international markets showed mixed dynamics. Regal Petroleum (RPT LN) came into the spotlight gaining 11.54% as investors brushed off some of the previous day's gloominess. As for other oil and gas companies, Cadogan Petroleum (CAD LN) slipped 3.45%, while JKX Oil & Gas climbed 0.7%. Ferrexpo (FXPO LN +0.15%) and MHP (MHPC LI -0.39%) closed little changed. In Warsaw Astarta (AST PW +1.05%) extended gains while Kernel (KER PW -2.96%) came under selling pressure.

In the first half of the trading session Ukrainian bonds continued their decline. Sovereigns moved down slightly. Corporates were not in good demand. But by the end of the day sovereigns managed to increase in price on line with positive market sentiment and buyers for corporate appeared on the market.


Oil & Gas: Ukrnafta November oil supplies priced at $63/bbl
Oil & Gas: Ukrnafta to increase gas realizations to industrial users
Metals and Mining: ALMK fails to provide iron ore supplies for October
Agriculture: Sintal continues its elevator expansion

Wednesday, October 20, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets edged lower Tuesday (Oct 19) as news of a rate hike in China brought negative sentiment on global markets. The UX exchange tumbled 1.39% on solid trading volume of UAH 122 mln. Stocks were in a tailspin led by drop in Ukrsotsbank (USCB -3.63%) and Motor Sich (MSICH -2.67%) shares. Metals and mining stocks also took a dip: ALMK -2.15%, AVDK -1.79%, AZST -1.74%, ENMZ -2.01%, YASK -2.52%. Ukrnafta (UNAF) and Ukrtelecom (UTLM) slumped -1.38% and -2.38% respectively, while GenCos (CEEN +0.34%, ZAEN -0.54%) closed little changed.

Most Ukrainian stocks traded on international markets weakened. Regal Petroleum (RPT LN) took the hardest hit losing 13,33% on the news about company’s drilling issues (for details please refer to the article below). Other London-listed shares also finished on the negative territory: JKX Oil & Gas (JKX LN) slid 2.76%, Ferrexpo (FXPO LN) dropped 0.21%, MHP (MHPC LI) shed 0.59%. In Warsaw, food processing stocks hovered over the flat line (AST PW +0.07%, KER PW unch.).


Oil & Gas: Regal Petroleum reports technical issues

Tuesday, October 19, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed in the red Monday (Oct. 18), ignoring firmer cues from global exchanges. The UX exchange closed 1.26% lower on volatile trading. Activity was rather high with total volume reaching UAH 96 mln. Stirol (STIR -4.64%) led the broad market decline, with banks (BAVL -1.71%, USCB -2.67%), Motor Sich (MSICH -2.49%) and Ukrtelecom (UTLM -2.54%) tailing along. Metals and mining stocks posted modest losses: ALMK -1%, AVDK -0.58%, AZST -0.44%, ENMZ -0.99%, YASK -0.91%. GenCos showed mixed dynamics: Centerenergo (CEEN -0.73%) slid, while Zakhidenergo (ZAEN +0.64%) was the only blue chip to close in the black.

Ukrainian stocks listed on international markets extended declines. Only MHP (MHPC LI +0.59%) managed to wrestle back some of the previous day’s losses. Cadogan (CAD LN -4.4%) and Regal Petroleum (RPT LN -4.76%) were the most prominent losers. Ferrexpo (FXPO LN) and Astarta (AST PW) slipped 2.52% and 3.38% respectively. JKX Oil & Gas (JKX LN -0.16%) and Kernel (KER PW) saw a slight dip.

Ukrainian Eurobonds traded actively on volatile pricing yesterday. Investors zeroed in on sovereigns, which slid early in the session only to climb out of the rut later in the day. Ukraine 20 closed out at 103.125 and NAFTO managed to recover to 109.25. Municipal issues moved down slightly on low trading volumes. CITKIE 15 landed at 95. Corporates were largely inactive and banking names remained flat – only FIUKR lost in price, sliding to 98.375.


Macro: Ukraine’s government to repay UAH 53.5 bln in 2011
Oil & Gas: Cadogan reports formal resolution of license issues
Food processing: Ukraine eases duties on meat imports

Monday, October 18, 2010

Daily Market Brief

Market Comment

Trading was turbulent on Ukrainian stock exchanges Friday (Oct. 15). The UX exchange fell sharply from the opening as investors jockeyed for position ahead of Ben Bernanke’s announcement of possible quantitative easing by the Fed. Stocks shot up following Bernanke’s statement that further action by the Fed is warranted; however, the rally was short-lived as the exchange sunk in the closing hour. As a result, the UX finished down 0.49% on a high total trading volume of UAH 112 mln. Stirol (STIR -3.23%) and Stahanov Car Production Facility (SVGZ -1.39%) led the decline. Metals and mining names faded late (ALMK -0.53%, AZST -1.35%, YASK -1.13%, ENMZ -0.22%), while GenCos closed out mixed (CEEN -0.47%, ZAEN +0.36%). It was a seesaw day for banking stocks. Raiffeisen Bank Aval (BAVL -0.8%) and Ukrsotsbank (USCB -1.07%) slid, and Forum Bank (FORM +0.14%) just managed to keep its head above water.
Ukrainian stocks listed on international exchanges charted a predominantly downward course. Oil and gas names finished mixed. JKX Oil & Gas (JKX LN -1.09%) and Regal Petroleum (RPT LN -3.07%) suffered notable losses, and Cadogan Petroleum (CAD LN +2.25%) posted a solid gain. Food processing names took their lumps. MHP shed 0.46%, Kernel (KER PW) slumped 0.76% and Astarta (AST PW) tumbled 3.27%.
On the heels of Thursday’s correction, prices for Ukrainian Eurobonds rebounded slightly at the beginning of Friday’s trading session. However, sovereigns were unable to sustain momentum and traded down later in the day: Ukraine 20 closed at 103.25 and NAFTO traded down at 109.875. Corporates were largely inactive. Banking names lost slightly in price. Only municipals managed to add; CITKIE 15 reached 95.5 on a low trading volume.


Macro: Ukraine’s industrial output grows 10.8% in September
Fixed Income: Ukreximbank raises $250 mln in additional offering

Tuesday, October 12, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets saw sideways trading Monday (Oct. 11). The UX exchange shot up from the opening bell, but lost momentum to close only 0.25% higher. Total trading volume was thin at UAH 54 mln. Zakhidenergo (ZAEN) fronted blue chips’ gains, adding 1.07% on the day. Most metals and mining stocks (ALMK +0.26%, AVDK +0.07%, AZST +0.51%, ENMZ +0.32%) rose modestly in line with the broad market advance. Yasynivka Coke (YASK -0.34%) was among the few stocks to tally a loss. Centerenergo (CEEN +0.11%), Motor Sich (MSICH +0.23%), Ukrnafta (UNAF +0.35%) and Ukrtelecom (UTLM +0.24%) added a fraction. Banks (BAVL -0.09%, USCB -0.02%, FORM +0.37%) hovered around the flat line.

Ukrainian stocks listed on international markets closed mixed. Among oil and gas stocks, Cadogan Petroleum (CAD LN) slid 2.36%, JKX Oil & Gas (JKX LN) surged 2.5% and Regal Petroleum (RPT LN) traded flat. Ferrexpo (FXPO LN) and MHP (MHPC LI) added 0.75% and 0.93% respectively. In Warsaw, Astarta (AST PW) lost 1.54%, while Kernel (KER PW) posted a solid 1.08% gain.

Activity on the Ukrainian Eurobond market was limited yesterday due to the Columbus Day holiday in the US.


Fixed Income: Moody’s revises Ukraine’s rating outlook upwards

Monday, October 11, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed lower on volatile trading Friday (Oct. 8). The UX exchange (-0.66%) dropped from the opening bell and traded sideways throughout the session. Total trading volume slid back to a moderate level of UAH 70.8 mln. All names in the index basket declined with Raiffeisen Bank Aval (BAVL -0.94%), Forum Bank (FORM -1.8%), Stirol (STIR -1.41%) and Ukrtelecom (UTLM -1.49%) leading the fall. Metals and mining stocks forfeited the previous session’s gains (ALMK -1.1%, AVDK -0.71%, AZST -0.47%, ENMZ -1.05%).

Ukrainian stocks listed on international markets traded in the doldrums. Oil and gas names were among the biggest laggards with JKX Oil & Gas (JKX LN) losing 3.15%, Regal Petroleum (RPT LN) dropping 2.82% and Cadogan Petroleum (CAD LN) sliding 2.27%. Other London-listed stocks posted modest losses: FXPO LN -0.63%, MHPC LI -0.33%. Food-processing stocks listed in Warsaw came under selling pressure: AST PW -1.65%, KER PW -0.84%.

Activity on the Ukrainian Eurobond marked centered on sovereign issues on Friday. All names on the curve were hit several times during the session, resulting in a loss in of at least a quarter point for sovereign issues. As there was no significant news regarding sovereign debt, the selloff was likely the result of end-of-the-week profit taking after a substantial price increase seen earlier. Corporates bucked the sovereign trend by closing slightly higher.


Politics: Ukraine’s Parliament put back in order
Fixed Income: Fitch assigns ‘B’ to Avangard’s Eurobond offering
Metals and Mining: Yasynivka Coke raises $40 mln from Prominvestbank
Agriculture: Landkom’s wheat yield down to 3 tonnes per ha

Thursday, October 7, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets were buoyed by improved sentiment Wednesday (Oct. 6). The UX exchange climbed 1.02% on a high total trading volume of UAH 135 mln. Alchevsk Steel (ALMK +1.26%), GenCos (CEEN +1.39%, ZAEN +1.08%), Motor Sich (MSICH +1.07%) and Ukrtelecom (UTLM +1.76%) outperformed the market. Steel producers (AZST +0.43%, ENMZ+0.93%) and Ukrnafta (UNAF +0.99%) also contributed to the broad market advance, while banks (BAVL +0.26%, USCB -0.15%) and coke producers (AVDK +0.27%, YASK -0.28%) waivered around the flat line.

On international markets, Ukrainian shares pared the previous day’s losses. JKX Oil & Gas (JKX LN -1.05%) was the only stock to finish in negative territory. Ferrexpo (FXPO LN) was the stock of the day surging 5.31%.

Cadogan (CAD LN +1.3%) and Regal Petroleum (RPT LN +2.70%) closed significantly higher, while food processing stocks (MHPC LI +0.34%, KER PW +0.38%, AST PW +0.68%) eked out small gains.

Ukrainian Eurobonds rallied yesterday. Long-end sovereigns added almost a point, as did NAFTO. Corporates were in very good demand, closing up a quarter to a half point. Banking names also caught investors’ attention: ALFAUA traded at 103 and FUIKR at par.


Macro: FX interbank market shows net demand in September
Fixed Income: FUIB requests bondholders amend Eurobond conditions

Wednesday, October 6, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets continued their losing streak Tuesday (Oct. 5). The UX exchange opened with yet another dramatic slide, but recovered in the afternoon to close only 0.69% lower. Trading volume was extremely high, reaching nearly UAH 191 mln. Most blue chips came under pressure, with Avdiivka (AVDK +1.90%), UkrSibbank (USCB +0.95%) and Zakhidenergo (ZAEN +0.02%) managing to buck the broad market trend. Investors hammered metals and mining stocks: ALMK -0.59%, AZST -0.86%, ENMZ -1.75%, YASK -2.09%. Raiffeisen Bank Aval (BAVL -0.47%), Centerenergo (CEEN -0.21%), Ukrnafta (UNAF -0.15%) and Ukrtelecom (UTLM -0.98%) surged late but could not manage to find positive territory.

Ukrainian stocks listed on international markets traded predominantly in the red. Regal Petroleum was the notable exception; the stock recovered 10.45% from last week’s sell-off. Other oil and gas names closed significantly lower with Cadogan (CAD LN) losing 1.3%, JKX Oil & Gas (JKX LN) declining 2.54%. Food processing stocks posted moderate losses: AST PW -0.4%, KER PW -0.37%, MHPC LI -0.67%.

Trading was moderate on the Ukrainian Eurobond market yesterday. Corporates remained flat and banking names traded slightly up. Sovereigns were in good demand due to generally positive sentiment on the bond market. As a result, long-end issues closed a quarter of a point higher.


Macro: Ukraine’s budget revenues at only 65% for 2010
Fixed Income: Fitch assigns a “B” rating to Kernel

Tuesday, October 5, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets got off to a weak start Monday (Oct. 4). Investors sold stocks actively on the UX exchange (-3.61%) pushing the index down. Trading volume came in higher than average at UAH 103 mln. Motor Sich (MSICH) and Ukrsotsbank hit record lows, dropping 6.09% and 5.52% respectively. Metals and Mining stocks also added to losses: ALMK -3.69%, AVDK -3.92%, AZST -3.51%, ENMZ -1.55%, YASK -1.24%. GenCos (CEEN -4.03%, ZAEN -1.11%) followed the broadly weaker trend, as did other top-tier names (BAVL -3.21%, UNAF -3.18%, UTLM -2.57%).

Among Ukrainian stocks listed on international exchanges, oil and gas stocks showed mixed dynamics: CAD LN -2.53%, JKX LN +0.16%, RPT LN unch. Food processing stocks (AST PW -0.13%, KER PW -0.3%, NHPC LI -1.64%) tallied mild losses, while Ferrexpo (FXPO LN +0.93%) inched up.

It was a sluggish day on the Ukrainian Eurobond market. Sovereigns traded slightly lower. Municipals have completely vanished from investors’ radars in recent sessions. Corporates remained flat, and banking issues such as ALFAUA, PRBANK and FIUKR were in very good demand.


Politics: Ukraine’s parliamentary majority reinvented
Metals and Mining: Alchevsk Steel to repay $68 mln to Metinvest

Monday, October 4, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets went against the global trend Friday (Oct 1) to finish in the red. The UX exchange opened strong, but reversed soon after the opening bell to close 0.57% lower. Trading volume was moderate at UAH 66 mln. Metals and mining stocks led the broad market decline: ALMK -1.87%, AVDK -0.51%, AZST -1.85%, ENMZ -1.06%, YASK -0.82%. Banking names kept the pace with Raiffeisen Bank Aval (BAVL) losing 0.41% and Ukrsotsbank (USCB) declining 1.13%. GenCos (CEEN -1.75%, ZAEN +0.47%) showed mixed dynamics, while Motor Sich (MSICH -0.29%) and Ukrnafta (UANF -0.06) lost a fraction.

Among Ukrainian stocks listed on international markets, investors continued to dump Regal Petroleum (RPT LN -9.46%), Cadogan Petroleum (CAD LN -1.25%) came under selling pressure, and JKX Oil & Gas (JKX LN +0.25%) eked out gains. Ferrexpo climbed 1.62%. Food processing stocks also posted gains: MHPC LI +0.66%, KER PW +1.52%.

Emerging market Eurobonds added in price Friday, and Ukrainian issues were no exception. Corporates and banking names were in demand. ALFAUA and FIUKR added one-quarter and one point respectively. Sovereigns remained predominantly flat with long duration issues slightly up.


Fixed Income: Arrears on VAT refunds slashed to UAH 3 bln
Coke: Ukraine’s coke production in September remains unchanged
Metals and Mining: Khartsyzsk Tube increases output in September by 54% M-o-M
Metallurgy: Ukraine’s steel industry increases output by 7% M-o-M

Friday, October 1, 2010

Daily Market Brief

Market Comment

A bearish mood prevailed on Ukrainian equity markets Thursday (Sep. 30). The UX exchange fell 0.68% led by a decline in shares of metals and mining (ALMK -1.17%, AVDK -1.17%, AZST -0.37%, ENMZ -0.87%, YASK -1.35%) and banks (BAVL -1.40%, USCB -2.75%). Total trading volume was high for a second straight session, reaching UAH 94 mln. GenCos closed mixed with Centerenergo (CEEN) losing 1.15% and Zakhidenergo (ZAEN) jumping 1.67%. Among other top-tier names, Motor Sich (MSICH) dropped 0.69%, Ukrtelecom (UTLM) slid 1.89% and Ukrnafta managed to add 0.02%.

The big story among Ukrainian names listed on international markets was Regal Petroleum (RPT LN). The stock plunged 27.34% on news that the Ukrainian government has suspended the company’s operations. It was business as usual for other oil and gas companies; JKX Oil & Gas (JKX LN) dropped 0.34% and Cadogan Petroleum (CAD LN) closed unchanged. Among other London-listed shares, Ferrexpo (FXPO LN) advanced 2.66% and MHP (MHPC LI) shed 0.66%. In Warsaw, Astarta (AST PW) declined 0.79% and Kernel (KER PW) finished flat.

All was quiet on the Ukrainian Eurobond market yesterday. Sovereigns traded flat for the bulk of the session, but lost slightly in price near the closing bell. Corporates remained at the same level, while banking names continued to show steady demand.


Metals and Mining: Khartsyzsk Tube becomes approved supplier of European companies

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