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Monday, November 1, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets swung between gains and losses Friday (Oct 29) . The UX exchange (+1.62) traded in the red, but reversed to gains closer to the end of the session. Trading volume was moderate and totaled UAH 90 mln. Motor Sich (MSICH) and Ukrnafta (UNAF) showed remarkable gains adding 4.02% and 3.85% respectively. Metals and mining stocks closed mixed: ALMK -0.8%, AVDK -1.83%, AZST +0.66%, ENMZ -0.03%, YASK unch. Banks (BAVL +0.78%, USCB +1.64%) and GenCos (CEEN +0.75%, ZAEN +0.56%) moved higher, Ukrtelecom (UTLM) advanced +0.94%.
Most stocks listed on international exchanges followed a negative trend with Ferrexpo (FXPO -2.23%) setting the pace. Oil and Gas names ranked losses with Regal (RPT LN) declining 1.56%, JKX Oil and Gas (JKX LN) dropping 0.39%. Food processing stocks also lost ground: KER PW -1.19%, MHP LI -0.06%.

Macro: Budget deficit reaches UAH52.8 bln
Fixed Income: Nadra Bank needs UAH8.3 bln in new capital
Metals and Mining: Ukraine’s steelmakers fail to meet output target for October
Agriculture: Ivano-Frankivsk Region to almost triple the sown area under sugar beet