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Friday, January 14, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets closed in the red yesterday (Jan. 13) on the back of negative job data released out of the U.S. in the second half of the trading session. The UX exchange lost 1.24%. Total trading volume set a historic record at UAH 320 mln. Ukrnafta (UNAF -0.18%) and Motor Sich (MSICH +0.69%) set the pace among volume leaders. The banking sector was one of the day’s bright spots, with Raiffeisen Bank Aval (BAVL +2.21%) and Ukrsotsbank (USCB +1.36%) turning in a solid performance. Ukrtelecom (UTLM) added a humble 0.58%. Investors fixed profits on the previous session’s top gainers: CEEN -4.12%, ALMK -4.38%, AZST -4.12%, ENMZ -3.89%. Prices also significantly dropped for coke producers: YASK -2.92%, AVDK -1.78%.

On international markets, Cadogan Petroleum (CAD LN +1.18%) and Regal Petroleum (RPT LN +2.89%) took a step up, while JKX Oil & Gas (JKX LN -0.03%) posted a small loss. Ferrexpo (FXPO LN +3.5%) prices climbed further and MHP (MHPC LI +1.1%) rebounded. In Warsaw, Astarta (AST PW +2.3%) solidified its advance, with both Kernel (KER PW +0.63%) and Agroton (AGT PW +0.8%) following suit.

Fixed Income: Kyiv targets balanced budget
Oil & Gas: Ukrnafta planning an IPO in London