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Wednesday, September 22, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets managed to stay afloat Tuesday (Sep. 21), going against the grain of major European exchanges that dipped just before the closing bell. The UX exchange added 0.44% on a moderate total trading volume of UAH 84 mln. Centerenergo (CEEN +1.19%) and Yasynivka Coke (YASK +1.32%) led the broad market advance. Metals and mining stocks (ALMK +0.3%, AVDK +0.35%, AZST +0.58%, ENMZ +0.61%) and banks (BAVL +0.55%, USCB +0.36%) posted modest gains. Among other top blue chips, Ukrnafta (UNAF) inched up 0.2% and Ukrtelecom (UTLM) climbed 0.65%.

On international markets, Ukrainian stocks closed mixed. Regal Petroleum (RPT) showed the best results, jumping 6.36%. MHP (MHPC LN +1.35), JKX Oil & Gas (JKX LN +0.65%) and Kernel (KER PW +0.08%) pushed higher, while Astarta (AST PW -2.17%), Cadogan (CAD LN -1.22%) and Ferrexpo (FXPO LN -1.35%) slid.

Fixed Income: FUIB and Dongorbank merger in the bag