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Friday, October 22, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets extended gains on Thursday (Oct. 21) fueled by investor’s optimism. Active trading was observed on the UX exchange (+1.65%) – total volume reached UAH 131.5 mln. Stocks rose across the board led by strength in banks (BAVL +2.10%, USCB +3.84%) and coke producers (AVDK +3.28%, YASK +1.24%) Motor Sich (MSICH +1.58%), Ukrnafta (UNAF +1.35%) and Ukrtelecom (UTLM +1.15%) were also among the best performers. Steel names (ALMK +0.55%, AZST +0.86%, ENMZ +1.09%) and GenCos (CEEN +2.50%, ZAEN +0.06%) moved with the overall market trend.

Most Ukrainian stocks listed on international markets closed little changed yesterday. Only Regal Petroleum (RPT LN) added solid gains 1,7% and JKX Oil & Gas (JKX LN) declined 0.99%. Ferrexpo (FXPO LN) inched up 0.06%, MHP (MHPC LI 0.4%), Kernel (KER PW -0.48%) and Astarta (AST PW -0.28%) closed slightly lower.

Ukrainian Eurobonds trading was inactive. Corporates traded slightly lower. PRBANK’15 traded down at 100.125. Sovereigns were higher at the beginning of the day but went lower as well. Ukraine 2020 dropped to 101.875.

Fixed Income: Ukraine’s banks release 3Q10 financials
GenCos: Donbassenergo reports net loss of UAH 4 mln in 3Q 2010
Metals and Mining: North Ore Mining and Processing Plant to decrease output in October-November