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Tuesday, February 1, 2011

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

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