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Thursday, March 3, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets waded into the red on Wednesday (Mar. 2). The UX exchange lost 1.54% as equity trading volume lowered to UAH 192 mln. Metals and mining stocks were the session’s biggest losers, with most declines coming in at over two percent: ALMK -3.05%, AZST -2.86%, ENMZ -2.08%, YASK -2.05%, AVDK -1.55%. Motor Sich (MSICH -1.91%), Ukrnafta (UNAF -1.47%) and banks (USCB -1.43%, BAVL -0.54%) posted significant drops. Ukrtelecom (UTLM -0.15%) took a timid step down. Among electricity generators, Centerenergo (CEEN -1.4%) fell in parity with most liquid names, while Zakhidenergo (ZAEN +1.23%) stood out with a notable hike.

In London, Cadogan Petroleum (CAD LN +1.83%) powered up, while Regal Petroleum (RPT LN -1.3%) and JKX Oil & Gas (JKX LN -0.19%) decelerated. Ferrexpo (FXPO LN -1.18%) and MHP (MHPC LI -0.53%) dipped. In Warsaw, only Astarta (AST PW +0.43%) managed to close in the black, while Kernel (KER PW -0.12%) and Agroton (AGT PW -2.04%) slipped.


Metals and Mining: Ferrexpo's production declines 3% in February

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