Daily Market Brief

Market Comment

Ukrainian equity markets made a triumphant recovery on Friday (Feb. 25). The UX exchanged captured most of the ground lost during the previous trading session with an impressive 4.64% advance. Equity trading volume was moderate at UAH 239 mln. Ukrnafta (UNAF +7.91%) sprang back to life. Coke producers (YASK +5.81%, AVDK +4.38%) and Motor Sich (MSICH +4.6%) also demonstrated strong revivals. Banks (BAVL +4.33%, USCB +4.1%) surged, but could not undo all the damage taken on in previous sessions. Metals and mining names (AZST +3.40%, ENMZ +2.94%, ALMK +2.43%) grew moderately, compensating for the sell-off. GenCos (CEEN +2.22%, ZAEN +1.36%), on the other hand, made a half-hearted recovery. Ukrtelecom (UTLM +2.15%) continued to stride forward confidently, with a result supported by the general uplift.

In London, Regal Petroleum (RPT LN +0.66%) closed in the black, JKX Oil & Gas (JKX LN +2.6%) pushed forward strongly, but the real champion was Cadogan Petroleum (CAD LN +10.92%). Ferrexpo (FXPO LN +3.12%) made a significant jump, while the session did not end well for MHP (MHPC LI -1.28%). In Warsaw, Astarta (AST PW +5.24%) starred, while Kernel (KER PW +0.96%) and Agroton (AGT PW +0.76%) lagged with meager gains.


Macro: Current account reverses to surplus in January
Metals and Mining: Alchevsk Coke to increase daily production by 13% in March
Metals and Mining: Ferrexpo to double railcar fleet by 2013

Daily Market Brief

Market Comment

Selling pressure took hold of Ukrainian equity markets on Thursday (Feb. 24). The UX exchange lost 4.65% on a high total trading volume of UAH 297 mln. Ukrnafta (UNAF -8.03%), an index heavyweight, corrected sharply after an extended period of growth. Strong blows also rained down on Centerenergo (CEEN -4.24%), Motor Sich (MSICH -3.85%) and banks (BAVL -6.29%, USCB -5.36%). Metals and mining names (ALMK -4.21%, YASK -4.04%, AZST -3.42%, ENMZ -2.62%, AVDK -2.35%) were not immune to the sell-off. Zakhidenergo (ZAEN -2.54%) followed the general downward plunge, while Ukrtelecom (UTLM +0.39%) was the only liquid stock that managed to stay afloat.

In general, Ukrainian companies listed on international markets posted moderate losses. In London, the only oil and gas name to significantly drop was Cadogan Petroleum (CAD LN -6.58%), while JKX Oil & Gas (JKX LN -0.8%) stepped down lightly and Regal Petroleum (RPT LN 0.33%) closed with a slight advance. Ferrexpo (FXPO LN -2.53%) kept up its correction and MHP (MHPC LI -1.47%) came down a notch. In Warsaw, Astarta (AST PW -0.34%) dipped into the red, while Kernel (KER PW -1.88%) and Agroton (AGT PW -3.37%) slid more intensively.


GenCos: Zakhidenergo's installed capacity reduced by 100 MW
Oil & Gas: Ukrnafta’s March oil supplies priced at $88/bbl
Metals and Mining: SGOK to increase daily pellet output by 7%

Market Comment

Ukrainian equity markets sank lower Wednesday (Feb. 23). The UX index dropped 1.32% on a total trading volume of UAH 210 mln. Whopping downfalls by Centerenergo (CEEN -3.38%), Alchevsk Steel (ALMK -3.18%) and Ukrsotsbank (USCB -3.1%) were primarily responsible for the index’s drop. Raiffeisen Bank Aval (BAVL -0.99%) added to the drag. Motor Sich (MSICH -2.53%) continued a trend of sharp decline. Steelmakers Azovstal (AZST -0.86%) and Enakievo Steel (ENMZ -1.06%) kept their losses at a moderate level. Coke producers closed mixed: Yasynivka Coke (YASK -1.51%) deepened its fall, while Avdiivka Coke (AVDK +1.27%) lunged forcefully into the black. Following days of growth juxtaposed to the index’s negative trend, Ukrtelecom (UTLM -0.61%) recorded a meager loss. Ukrnafta (UNAF +0.58%) defied the market once again, and Zakhidenergo (ZAEN +0.85%) turned positive side up.

In London, a positive result came in for Regal Petroleum (RPT LN +1.33%), while Cadogan Petroleum (CAD LN -2.56%) kept rolling downhill and JKX Oil & Gas (JKX LN -0.33%) lingered just below the flat line. Ferrexpo (FXPO LN -3.48%) came under severe selling pressure and MHP (MHPC LI -1.34%) intensified it recent loss dynamics. In Warsaw, Astarta (AST PW +0.74%) emerged from the previous session’s slump, while Kernel (KER PW -0.44%) slid, and Agroton (AGT PW -2.06%) swallowed a red pill.


Oil & Gas: Ukrnafta shareholders to appoint western CEO

Daily Market Brief

Market Comment

Ukrainian equity markets slipped into the red on Tuesday (Feb. 22). The UX exchange lost 0.86% as equity trading volume remained high at UAH 252 mln. Among steel stocks, Azovstal (AZST -2.58%) and Enakievo Steel (ENMZ -2.68%) took severe blows, while Alchevsk Steel (ALMK +0.6%) managed to further its advance. Motor Sich (MSICH -2.18%) ended the day with a sharp drop. GenCos (CEEN -2.26%, ZAEN -1.68%) slid significantly, while losses for the banking sector (USCB -1.07%, BAVL -0.67%) and coke producers (AVDK -0.91%, YASK -0.67%) came in at moderate levels. Ukrnafta (UNAF +0.83%) and Ukrtelecom (UTLM +0.9%) withstood the general selling pressure and posted modest gains.

In London, Regal Petroleum (RPT LN +1.01%) pushed forward, while Cadogan Petroleum (CAD LN -7.14%) underwent a severe correction following a streak of massive gains. JKX Oil & Gas (JKX LN -0.99%) inched down. Both Ferrexpo (FXPO LN -0.71%) and MHP (MHPC LI -0.97%) dropped slightly. In Warsaw, Astarta (AST PW -4.49%) continued to drown, Kernel (KER PW -2.43%) made an about-face and Agroton (AGT PW -0.44%) shed a bit.


Oil & Gas: Ukraine to float its oil and gas holding

Daily Market Brief

Market Comment

Ukrainian equity markets remained in the black Monday (Feb. 21). The UX exchange rose 0.16% on a sizable equity trading volume of UAH 231 mln. For a second straight session, the minor index gain was attributed to the dynamics of a few stocks, namely the continued swell of Ukrnafta (UNAF +2.81%) and the stark turnaround by Alchevsk Steel (ALMK +3.04%). Other names to close above the flat line were Ukrtelecom (UTLM +0.6%) and Centerenergo (CEEN +0.24%). Coke producers (AVDK -3.59%, YASK -2.79%) slid a steep slope. Azovstal (AZST -2.58%) and banking sector stocks (USCB -2.09%, BAVL -1.74%) tumbled severely. Zakhidenergo (ZAEN -1.53%) and Enakievo Steel (ENMZ -1.15%) declined at a more moderate pace, and Motor Sich (MSICH -0.14%) stopped just short of a positive outcome.

In London, Regal Petroleum (RPT LN -1%) and Cadogan Petroleum (CAD LN -0.59%) shed, while JKX Oil & Gas (JKX LN +0.9%) inched up. Ferrexpo’s (FXPO LN -3.32%) correction overrode previous gains, and MHP (MHPC LI -0.26%) dropped slightly. Some dramatic results were demonstrated in Warsaw: Astarta (AST PW -4.15%) took a severe blow, while Kernel (KER PW +5.24%) shot back up to regain a bulk of the previous session’s losses. Agroton (AGT PW +0.96%), on the other hand, recorded a humble advance.


Banks: Ukraine’s banks improve operations in January
Real Estate: TMM boosts net revenue 34% Y-o-Y for 2010

Daily Market Brief

Market Comment

Ukrainian equity markets just managed to end trading in positive territory on Friday (Feb. 18). The UX exchange rose 0.05% on a hefty total equity trading volume of UAH 247 mln. Impressive gains by Ukrnafta (UNAF +3.5%) and Ukrtelecom (UTLM +1.71%) were primarily responsible for the index’s meager lift. Most liquid stocks came under selling pressure, with metals and mining names taking the most severe blows: AVDK -3.27%, ENMZ -2.13%, ALMK -1.86%, AZST -1.57%, YASK -1.55%. Minor losses were recorded by Motor Sich (MSICH -0.22%) and banks (BAVL -0.66%, USCB -0.65%).

In London, Regal Petroleum (RPT LN +2.04%) and Cadogan Petroleum (CAD LN -2.87%) took strides in opposite directions, and JKX Oil & Gas (JKX LN +0.54%) inched up. Ferrexpo (FXPO LN +2.98%) made an impressive hike and MHP (MHPC LI +0.51%) followed a few steps behind. In Warsaw, Astarta (AST PW +0.52%) closed in the black, while Agroton (AGT PW -0.64%) shed, but the real slump came in for Kernel (KER PW -6.01%).


GenCos: Donbasenergo reports net loss of UAH 148 mln in 2010
GenCos: Zakhidenergo reports net loss of UAH 187 mln in 2010

Daily Market Brief

Market Comment

Ukrainian equity markets traded sideways on Thursday (Feb. 17). The UX exchange closed with a 1.07% gain on a total trading volume of UAH 195 mln. Ukrnafta (UNAF) took charge with an impressive 2.25% hike. GenCos also took a step up with Centerenergo (CEEN) appreciating by 1.56% and Zakhidenergo (ZAEN) inching up 0.25%. Motor Sich (MSICH) slowed its striking growth pace set over the past few days with a 0.5% advance. Raiffeisen Bank Aval (BAVL +0.42%) also closed in the red, while its peer Ukrsotsbank (USCB -0.78%) moved in the opposite direction. Ukrtelecom (UTLM -0.27%) took a slight dip, while metals and mining names weighed on the index basket with deepening losses: AVDK -1.99%, AZST -1.45%, ALMK -1.11%, YASK -1.03%, ENMZ -0.24%.

In London, gains came in for Ukrainian oil and gas names: Regal Petroleum (RPT LN) added 1.38%, Cadogan Petroleum (CAD LN) advanced 1.16% and JKX Oil & Gas (JKX LN) inched up 0.88%. Notable positive ground was broken by Ferrexpo (FXPO LN +1.62%), while MHP (MHPC LI +2.09%) made another impressive vault. In Warsaw, Agroton (AGT PW +0.91%) closed in the black, while Astarta (AST PW) closed flat and Kernel (KER PW -0.66%) shed.


Macro: Ukraine’s economic growth up to 6% Y-o-Y in January

Daily Market Brief

Market Comment

Ukrainian equity markets experienced volatile trading on Wednesday (Feb. 16). The UX exchange slid in the opening hours of the session only to be yanked up in the second half of the day and close with a 0.87% rise. Total trading volume reached UAH 268 mln. Index growth was due primarily to Motor Sich (MSICH +7.18%), which made another stunning leap. Banks added some support, with Raiffeisen Bank Aval (BAVL +0.69%) and Ukrsotsbank (USCB +0.38%) both making slight advances. Centerenergo (CEEN +0.19%) also managed to stay in the black. Metals and mining names (ENMZ -1.74%, ALMK -1.43%, AVDK -1.43%, AZST -1.04%, YASK -0.9%) continued to have an adverse impact on the index. The remainder of liquid stocks recorded trifle losses: UNAF -0.13%, UTLM -0.36%, ZAEN -0.46%.

In London, Regal Petroleum (RPT LN -2.69%) continued its correction, Cadogan Petroleum (CAD LN) closed flat and JKX Oil & Gas (JKX LN +1.93%) broke out with an impressive hike. Ferrexpo (FXPO LN -0.92%) lowered in value, while MHP (MHPC LI +2.03%) made a noteworthy thrust back into positive territory. In Warsaw, only Astarta (AST PW +1.05%) managed to advance, while Kernel (KER PW -0.83%) shed and Agroton (AGT PW -3.15%) slid.


Fixed Income: Ukraine raises $1.5 bln on ten-year notes
Metals and Mining: Alchevsk Steel posts losses of $127.8 mln in 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed mixed on Tuesday (Feb. 15). While the PFTS managed to eke out a gain, the UX exchange (-0.32%) slipped into the red just before the close of the trading session. Total equity trading volume on the UX came in at a moderate UAH 194 mln. Motor Sich (MSICH) starred with a 2.39% surge. Other liquid stocks to close in the black included Ukrnafta (UNAF +0.23%) and Zakhidenergo (ZAEN +0.11%). Among banking names, Raiffeisen Bank Aval (BAVL) closed flat, while Ukrsotsbank (USCB -0.58%) took a step into negative territory. The crucial downwards pull on the index was made by metals and mining names (AZST -1.66%, ALMK -1.45%, ENMZ -1.38%, AVDK -1.17%, YASK -0.18%), with Ukrtelecom (UTLM -1.5%) and Centerenergo (CEEN -1.35%) adding significantly in the loss category.

In London, Cadogan Petroleum (CAD LN +3.61%) slowed the pace of its ascent, JKX Oil & Gas (JKX LN -0.07%) lowered a pinch, and Regal Petroleum (RPT LN -1.33%) corrected after yesterday’s surge. Both Ferrexpo (FXPO LN -1.03%) and MHP (MHPC LI -0.8%) kept on with negative trends. In Warsaw, agricultural companies did not break any significant ground, with Astarta (AST PW +0.53%) and Kernel (KER PW +0.6%) making inching up and Agroton (AGT PW) shedding 0.63%.


Macro: Ukraine’s GDP growth in 2010 estimated at 4.2% Y-o-Y
Fixed Income: Ukraine to sell ten-year Eurobonds
Metals and Mining: Alchevsk Steel to reprocess billets from captive steel works

Daily Market Brief

Market Comment

Ukrainian equity markets fell sharply Thursday (Feb 11) on the back of selling pressure on international markets. The UX exchange dropped 2.49% by the end of the day. Trading volume on the equity market reached UAH 280 mln. Stocks tumbled by several percentage points across the board, with the most significant losses coming in for metals and mining names (ALMK -4.8%, YASK -4.06%, ENMZ -4%, AZST -3.51%, AVDK -3.39%). Among less dramatic losers were Motor Sich (MSICH -2.6%) and Zakhidenergo (ZAEN -1.65%). The only liquid stock to manage an advance was Ukrnafta (UNAF +0.66%).

In London Regal Petroleum (RPT LN -1.33%) and JKX Oil & Gas (JKX LN -0.86%) slid, while Cadogan Petroleum (CAD LN) closed flat. Both Ferrexpo (FXPO LN -1.71%) and MHP (MHPC LI -2.6%) took significant hits. In Warsaw, Agroton (AGT PW -3.18%) posted a dramatic decline, Kernel (KER PW -2.9%) crumbled, and Astarta (AST PW) ended the session flat.


Politics: Association agreement negotiations between Ukraine and Europe “not stalled”
Metals and Mining: Alchevsk Steel contracts 10% of iron ore supplies with Stoylensky GOK
Metals and Mining: Ferrexpo to produce only higher grade pellets
Banks: Forum Bank increases share capital

Daily Market Brief

Market Comment

Ukrainian equity markets continued volatile trading on Wednesday (Feb. 9). The UX exchange ended the day with a 0.2% advance. Total trading volume on the equity market climbed to UAH 214 mln. Ukrnafta (UNAF +2.72%) made the most significant contribution to index growth for a second straight day. Banking names stayed close to the leader: Ukrsotsbank (USCB +0.83%) slowed its pace compared to yesterday’s results, while Raiffeisen Bank Aval (BAVL +1.72%) continued to surge. Ukrtelecom (UTLM +0.33%), the only other liquid paper to end in positive territory, reversed to gains. Loss leaders included Enakievo Steel (ENMZ -1.87%) and Zakhidenergo (ZAEN -1.35%). Other blue chips closed with losses under one percent.

In London, Cadogan Petroleum (CAD LN +2.99%) took an impressive step up, recovering from the previous session’s correction. Regal Petroleum (RPT LN +2.03%) posted a solid rise, while JKX Oil & Gas (JKX LN -1.56%) slid. Ferrexpo (FXPO LN -1.64%) took a significant hit, and MHP (MHPC LI) ended the day flat. In Warsaw, Kernel (KER PW +0.94%) tacked on a meager gain, Agroton (AGT PW -0.24%) shed, and Astarta (AST PW -6.67%) crumbled.

Metals and Mining: Ferrexpo to invest $1.4 bln by 2015
Metals and Mining: Accident at Enakievo Steel temporarily halts production
Metals and Mining: Russia extends and increases antidumping duties on Ukrainian pipe

Daily Market Brief

Market Comment

Volatile trading characterized Ukrainian equity markets Tuesday (Feb 8). The UX exchange surged at the opening bell, slid throughout the middle portion of the session, only to inch up near the close to finish with a meager gain of +0.07%. Trading volume remained high at UAH 248 mln. Ukrnafta (UNAF +2.81%) made a valiant upward pull on the index. Banking names (USCB +1.3%, BAVL +1.29%) showed a significant rise in price. Motor Sich (MSICH +0.75%) was another liquid stock that managed to close in positive territory. The most notable losses were taken on by Ukrtelecom (UTLM -2.94%) and Azovstal (AZST -2.65%). Investors fixed profits on coke producers: AVDK -1.62%, YASK -1.32%. Other blue chips closed with losses under one percent.

After the previous session’s uplift, results for Ukrainian companies listed on international markets came in generally weak. Having resumed trading in London, Regal Petroleum (RPT LN +0.68%) posted an insignificant advance, while JKX Oil & Gas (JKX LN -1.86%) faded, and Cadogan Petroleum (CAD LN -4.29%) corrected sharply. Ferrexpo (FXPO LN -1.32%) and MHP (MHPC LI -1.54%) also ended the day in the red. In Warsaw, Kernel (KER PW -1.28%) took a dip, Agroton (AGT PW -0.12%) shed a bit, but Astarta (AST PW +3.76%) displayed a striking charge.


Fixed Income: Metinvest raises $750 mln in seven-year Eurobonds
Fixed Income: PrivatBank 16 call option not executed
Metals and Mining: North Ore Mining and Processing Plant doubles bottom line in 2010

Daily Market Brief

Market Comment

Ukrainian equity markets started the week with an upwards surge Monday (Feb. 7), lifted by further global optimism towards economic growth and declining tensions in Egypt. The UX exchange added 0.84% on a modest equity trading volume of UAH 198 mln. Stirol (STIR +2.38%) leapt ahead of the market on the back of news concerning production capacity expansion. Another top gainer was Alchevsk Steel (ALMK +2.45%), while other steel producers advanced only moderately: ENMZ +1.14%, AZST +0.98%. Coke producers kept up a solid growth pace, with Yasynivka Coke (YASK) up 1.79% and Avdiivka (AVDK) gaining 1.4%. Ukrnafta (UNAF +1.2%) and banking names (USCB +1.07%, BAVL +0.91%) followed suit. Ukrtelecom (UTLM -0.25%) was the only blue chip to trade against the market. Other liquid stocks ended trading with insignificant gains under one percent.

Ukrainian companies listed on international markets showed overall positive dynamics yesterday. In London, Cadogan Petroleum (CAD LN +9.37%) soared once again, and JKX Oil & Gas (JKX LN +1.21%) rose steadily. Ferrexpo (FXPO LN +1.53%) tacked on a notable gain, while MHP (MHPC LI +0.26%) closed just in the black. In Warsaw, Kernel (KER PW +3.86%) surged, Astarta (AST PW +1.13%) stepped firmly into positive territory, and Agroton (AGT PW -0.56%) shed a bit.


Macro: Ukraine’s CPI inflation down to 8.2% Y-o-Y in January
Metals and Mining: Alchevsk Coke restores coal purchases

Daily Market Brief

Market Comment

Ukrainian equity markets ended the week in positive territory Friday (Feb. 4). Investor sentiment was supported by the general uplift on international markets, with better than expected earnings reports, expansion of manufacturing in China and positive employment data from the US. The UX exchange opened up and charted a sideways course throughout the session to close with a gain of 0.79%. Total trading volume came in higher than average at UAH 229 mln. The focus was on mining names (AVDK +4.51%, YASK +3.05%), which grew along with the world's largest mining companies that are in line to compensate for the hurricane hit mines in Australia. Banks took a significant step upwards (BAVL +1.77% USCB +1.58%). Metallurgy names also recorded solid gains: ALMK +1.47%, AZST +1.59%, ENMZ +1.32%. Another notable advance was made by Ukrtelecom (UTLM +1.1%), while Motor Sich (MSICH +0.04%) could not break any notable ground. Centerenergo (CEEN -0.32%) and Ukrnafta (UNAF -0.15%) were the only liquid stocks to close in the red.

In London, Cadogan Petroleum (CAD LN -2.29%) continued its correction, while JKX Oil & Gas (JKX LN +0.75%) eked out a gain. Ferrexpo (FXPO LN +0.62%) advanced slightly and MHP (MHPC LI -0.21%) closed in shallow negative territory. In Warsaw, agricultural companies demonstrated positive dynamics, with Astarta (AST PW +2.32%) ending the week on the highest note. Kernel (KER PW +0.85%) and Agroton (AGT PW +0.2%) inched up humbly.


Metals and Mining: Ukrainian coke producers raise prices by 10% M-o-M in February
Chemicals: Stirol plans to launch dormant ammonia workshop

Daily Market Brief

Market Comment

Positive sentiment prevailed on Ukrainian equity markets Thursday (Feb. 3). The UX exchange rose 0.65%, with total equity trading volume coming in at UAH 250 mln. The hefty price hike for Centerenergo (CEEN +4.89%) led the session’s gains. Ukrtelecom (UTLM +1.74%) and Ukrsotsbank (USCB +1.61%) also managed to make significant advances. Raiffeisen Bank Aval (BAVL -0.23%) could not follow its peer’s lead. Prices also charted a downward trend for steel makers, with Azovstal (AZST -1.26%) and Enakievo Steel (ENMZ -1.27%) leading losses and Alchevsk (ALMK -0.08%) shedding just a pinch. Coke producers closed with mixed results: Avdiivka Coke (AVDK +0.75%) took a step up, while Yasynivka Coke (YASK -1.35%) slid. Motor Sich (MSICH -1.02%) came back down to earth, and Ukrnafta (UNAF -0.15%) closed just below the flat line.

In London, investors fixed profits on Cadogan Petroleum (CAD LN -6.43%), and JKX Oil & Gas (JKX LN -0.8%) inched down. Both Ferrexpo (FXPO LN -1.91%) and MHP (MHPC LI -0.56%) reversed to losses. In Warsaw, Astarta (AST PW +1.5%) and Kernel (KER PW +1.29%) made notable ascents, while Agroton (AGT PW -0.24%) closed in negative territory.


Oil & Gas: JKX Oil & Gas reports Russian project update

Daily Market Brief

Market Comment

Ukrainian equity markets experienced an uplift Wednesday (Feb. 2) on the back of positive domestic corporate developments. The UX exchange posted an impressive 2.53% gain on an unprecedented trading volume of UAH 350 mln. It was Motor Sich’s (MSICH) day; the stock shot up 10.62% after its FY10 results came out much better than expected. Among other top gainers, Ukrtelecom (UTLM) starred with a 3.12% rise and Ukrnafta (UNAF) climbed 1.94%. The banking sector (BAVL +0.8%, USCB +1.5%) and Centerenergo (CEEN +1.27%) posted moderately positive results. Metals and mining companies closed mixed. Yasynivka Coke (YASK +1.17%), Azovstal (AZST +1.09%), Enakievo (ENMZ +0.84%), Avdiivka Coke (AVDK +0.56%) all managed to gain, while Alchevsk Steel (ALMK -0.53%) closed in the red. Another blue chip that moved against the market was Zakhidenergo (ZAEN -0.16%).

In London, Cadogan Petroleum (CAD LN +12.9%) kept flying higher, while JKX Oil & Gas (JKX LN +1.02%) solidified its gains. Both Ferrexpo (FXPO LN +1.34%) and MHP (MHPC LI +0.77%) posted moderate advances. In Warsaw, Astarta (AST PW -0.32%) and Agroton (AGT PW -0.27%) closed in negative territory, but Kernel (KER PW +0.06%) just crossed over the flat line.


Fixed Income: Fitch assigns B rating to Ukreximbank’ hryvnia-linked notes
GenCos: Ukraine eyes privatization of GenCos in 2Q11
Metallurgy: Ukrainian steelmakers stand firm in January
Metals and Mining: Ferrexpo decreases pellet output in January by 3% M-o-M
Metals and Mining: Yasynivka Coke to maintain daily production in February

Daily Market Brief

Market Comment

Ukrainian equity markets charted an upward trend Tuesday (Feb. 1), on the back of optimism emanating from international markets. By the end of the trading session, the UX exchange added 2.12%. Total trading volume came in at UAH 216 mln. The bulk of index growth was provided by Ukrnafta (UNAF), which shot up 4.01%. Centerenergo (CEEN) was another top contributor with an impressive 2.74% pick up. The banking sector also solidified a notable advance: USCB +1.85%, BAVL +1.62%. Metals and mining companies (ALMK +1.82%, AZST +1.45%, ENMZ +1.41%, YASK +1.27%, AVDK +0.86%) followed the general positive trend; however, gains were on the moderate side. Both Ukrtelecom (UTLM +1.04%) and Motor Sich (MSICH +0.59%) kept up the pace, while results were weakest for Zakhidenergo (ZAEN +0.16%).

In London, Cadogan Petroleum (CAD LN) soared 22.72% amidst changes in the shareholder structure. JKX Oil & Gas (JKX LN +1.1%) kept inching upwards. Prices hiked for Ferrexpo (FXPO LN +3.86%), while MHP (MHPC LI +0.57%) made a humble advance. In Warsaw, Astarta (AST PW -1.16%) kept to a downward trajectory, while Agroton (AGT PW +0.05%) and Kernel (KER PW +0.12%) managed to eke out gains.


Politics: Ukraine’s Parliament extends its tenure, pushes election to 2012
Metals and Mining: Enakievo Steel to report a $98 mln net loss
Metals and Mining: Ukrainian coke producers finish January flat

Daily Market Brief

Market Comment

Ukrainian equity markets traded in the red on Monday (Jan 31). The UX exchange lost 0.34% on a sizeable total trading volume of UAH 223 mln. A bulk of the losses were taken on by metals and mining stocks: AZST -2.38%, ENMZ -2.36%, AVDK -1.31%, YASK -1.25%, ALMK -0.33%. Centerenergo (CEEN -0.57%), Raiffeisen Bank Aval (BAVL -0.52%) and Ukrtelecom (UTLM -0.45%) clicked down a notch, while Motor Sich (MSICH -0.29%), Zakhidenergo (ZAEN -0.2%) and Ukrsotsbank (USCB -0.15%) hovered just below the flat line. Ukrnafta (UNAF) defied the general downward trend, standing firm with a 0.87% advance.

In London, Cadogan Petroleum (CAD LN +8.6%) soared, while JKX Oil & Gas (JKX LN +0.41%) added insignificantly. Ferrexpo (FXPO LN -3.34%) corrected, and MHP (MHPC LI -0.05%) closed with a meager loss. In Warsaw, agricultural companies kept up negative dynamics: Astarta (AST PW -3.55%) tumbled, while Agroton (AGT PW -1.45%) and Kernel (KER PW -0.19%) slid at a slower pace.


Fixed Income: Ukreximbank sells $300 mln in hryvnia Eurobonds
Metals and Mining: Metinvest not eager to buy out minority shares in subsidiaries
Banks: Aval records UAH 745,000 net profit in 2010
Banks: Ukrsotsbank reports a UAH 28.9 mln bottom line in 2010