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Monday, December 27, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets experienced a solid uplift on Friday (Dec. 24). The UX exchange climbed an impressive 2.15% on a high total trading volume of UAH 228 mln. Metals and mining stocks led the rally, with Alchevsk Steel (ALMK) and Enakievo Steel (ENMZ) soaring 8.77% and 5.62% respectively. Yasynivka Coke (YASK +3.7%), Azovstal (AZST +2%) and Avdiivka Coke (AVDK 0.8%) followed the upward shift. Solid advances were also made by Centerenergo (CEEN +3.01%), Ukrtelecom (UTLM +2.94%) and Ukrnafta (UNAF +2.65%). Other blue chips closed with moderate gains under one percent. The only stock in the index basket to trade against the market was Zakhidenergo (ZAEN -0.43%).

Macro: Ukraine’s capital inflows fail to cover current account deficit
Metals and Mining: Yasynivka Coke to fire up coke battery No. 4

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