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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

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