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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

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