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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

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