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Thursday, February 17, 2011

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

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