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Monday, November 8, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed stronger on Friday (Nov 5) boosted by upbeat unemployment statistics from the US. The UX exchange rose steadily during the day to finish 2.71% higher. Trading volume hit a new high of UAH 267 mln. Particular attention was paid to Zakhidenergo (ALMK) - the stock skyrocketed 18.09%. Other metals and mining stocks also weighed on broader market: AVDK +0.08%, AZST+6.58%, ENMZ +8.68%, YASK+6.09%. Other blue chips posted solid gains: CEEN +1.15%, MSICH +3.48%, UNAF +0.61%, USCB +5.57%, UTLM +1.63%. Reiffeisen Bank Aval (BAVL -0.05%) was the only blue chip to close in the red.

Among Ukrainian stocks, listed on international exchanges, oil and gas names moved in opposite directions: Regal Petroleum (RPT LN) gained 3.39%, while JKX Oil & Gas (JKX LN) and Cadogan Petroleum (CAD LN) lost 2.31% and 1.27% respectively. Ferrexpo (FXPO LN) added 2.27%. As for food processing stocks, Kernel slid 1.79%%, while Astarta (AST PW) inched up 0.77% and MHP (MHP LI) climbed 0.32%.

Macro: Budget deficit reaches UAH 52.8 bln over 9M10
Macro: Ukraine’s industry grows 11.5% Y-o-Y in October.