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Monday, January 24, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets set a solid upward pace on Friday (Jan. 21). The UX exchange closed up 1.4% on the back of a moderate total trading volume of UAH 163 mln. The main drivers of index growth were impressive gains by steel makers (ALMK +3.78%, ENMZ +2.57%, AZST+2.75%) and Ukrtelecom (UTLM +1.62%). Significant advances were also recorded by the banking sector (USCB +3.03%, BAVL +1.49%) and Centerenergo (CEEN +1.39%). The only blue chip that didn't make it over the flat line was Ukrnafta (UNAF -0.09%). Other liquid stocks closed in the black with gains of under one percent.

In London, Cadogan Petroleum (CAD LN +1.19%) and JKX Oil & Gas (JKX LN +0.28%) showed moderately positive dynamics. MHP (MHPC LI +1.33%) continued to swell, while Ferrexpo (FXPO LN -0.02%) ended the day with a meager loss. In Warsaw, Kernel's (KER PW +5.26%) hike was in stark contrast to downturns by Astarta (AST PW -1.05%) and Agroton (AGT PW -1.14%).


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