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Monday, October 25, 2010

Daily Market Brief

Market Comment

Trading on Ukrainian equity markets was choppy ahead of the G20 meeting. The UX exchange lost 0.76% on a moderate trading volume of UAH 78 mln. Metals and mining stocks showed the weakest performance: ALMK -2.54%, AVDK -0.89%, AZST -2.10%, ENMZ -1.68%, YASK -2.31%. Investors took a loss on recent gains in banking shares (BAVL -0.87%, USCB -1.67%). Other blue chips were also dragged lower: MSICH -0.33%, UTLM -1.32%. ZAEN -0.59%. Only Centrenergo (CEEN +0.03%) and Ukrnafta (UNAF +0.19%) managed to creep into positive territory.

Ukrainian stocks listed on international markets moved in the opposite direction. Among oils and gas shares, Regal Petroleum (RPT LN) recovered a further 5.09%, Cadogan Petroleum (CAD LN) gained a solid 1.18%, JKX Oil & Gas (JKX LN) slipped 1.03%. Other London-listed stocks eked out small gains: FXPO LN +0.03%, MHPC LI +0.13%. In Warsaw, Astarta (AST PW) inched up 0.14% and Kernel (KER PW) declined 1.37%.

Macro: Foreign direct investments rise 8% over 9M10
Metals and Mining: MMKI to cut purchases of coke at YASK twice in October