Market Comment
Ukrainian equity markets posted meager gains yesterday (Jan. 10). The UX exchange traded in the red during the first half of the session, but recovered in the afternoon to add 0.26%. Total trading volume came in at a moderate UAH 180 mln. Investors were all about coke producers: Yasynivka Coke (YASK) soared 10.79% and Avdiivka Coke (AVDK) jumped 5.94%. Among other blue chips, only two companies managed to close in the black: Centerenergo (CEEN +2.92%) made a solid advance and prices for Ukrnafta (UNAF +0.26%) moved slightly upward. Investors fixed profits on other liquid stock; loss leaders included Alchevsk Steel (ALMK -2.88%), Enakievo Steel (ENMZ -2.42%) and Zakhidenergo (ZAEN -2.05%).
On international markets, Ukrainian oil and gas companies recorded significant growth with Regal Petroleum (RPT LN +4.26%) and Cadogan Petroleum (CAD LN +2.38%) among the session’s top stocks, while JKX Oil & Gas (JKX LN +0.45%) grew at a more moderate pace. Losses came in for Ferrexpo (FXPO LN -1.67%) and MHP (MHPC LI -0.89%). In Warsaw, Аgroton (AGT PW +3.29%) and Astarta (AST PW +3.13%) climbed steeply, while Kernel (KER PW -1.13%) corrected.
Food processing: Kernel increases share capital by 0.66% -- Deutsche Bank issues "buy" recommendation with 98 PLN target price.
Tuesday, January 11, 2011
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