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Wednesday, December 8, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets opened higher yesterday (Dec. 7) on the back of upbeat sentiment on European markets. The UX exchange surged in the first half of the day, but corrected slightly in the afternoon to close with a 0.66% rise. Total trading volume reached UAH 172 mln. The main contributor to index growth was Ukrtelecom (UTLM +2.92%) once again. Stock prices also hiked for Yasynivka Coke (YASK +2.79%) and Enakievo Steel (ENMZ +2.39%), while other metals and mining companies posted more modest gains: ALMK +0.53%, AVDK +0.07%, AZST +0.32%. Other top companies to put on notable growth included Ukrsotsbank (USCB), which added a solid 1.42%, and Ukrnafta (UNAF), which inched up 0.6%. The only blue chips to trade against the market trend were Raiffeisen Bank Aval (BAVL -0.2%) and Zakhidenergo (ZAEN -0.42%).

Ukrainian companies listed on international markets showed mixed dynamics yesterday. In London, Regal Petroleum (RPT LN -3.23%) and Cadogan Petroleum (CAD LN -1.11%) slid, while JKX Oil & Gas (JKX LN +0.38%) crept up. Ferrexpo (FXPO LN) added a solid 1.36% and MHP (MHPC LI) shot up 3.54%. In Warsaw, listed Ukrainian stocks reported losses across the board: AST PW -0.71%, AGT PW -1.56%, KER PW -1.79%.

Macro: Ukraine’s net demand for FX eases in November
Macro: Inflation in Ukraine decelerates to 9.2% Y-o-Y
Oil & Gas: Ukrnafta may lease chemical plant

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