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Friday, March 4, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets landed in positive territory on Thursday (Mar. 3). The UX exchange gained 0.66% on a marginally lower equity trading volume of UAH 188 mln. GenCos (CEEN +2%, ZAEN +1.63%) took the lead step forward. Motor Sich (MSICH +1.49%) rose significantly as well. Metals and mining stocks (YASK +1.47%, ENMZ +1.41%, AZST +1.18%, ALMK +0.91%, AVDK +0.3%) charged forward to partially recover previous losses. Banking names lunged back into the black (USCB +1.14%, BAVL +0.5%). Ukrtelecom (UTLM +0.09%) posted a humble gain, while investors pulled back the reins slightly on Ukrnafta (UNAF -0.46%).

Oil and gas names shone brightly in London, with Cadogan Petroleum (CAD LN +2.99%) and Regal Petroleum (RPT LN +2.63%) setting the pace. JKX Oil & Gas (JKX LN +1.72%) was not far behind. MHP (MHPC LI +2.43%) put in an impressive performance, while Ferrexpo (FXPO LN +0.5%) hovered just over the flat line. In Warsaw, Astarta (AST PW +1.01%) made a positive move once again, but Kernel (KER PW -0.12%) and Agroton (AGT PW -0.11%) just could not manage to break even.


Metals and Mining: Enakievo Steel to restore output in March
Metals and Mining: Yasynivka Coke to commission battery No. 4 this spring

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