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Friday, February 4, 2011

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

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