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Wednesday, February 2, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets charted an upward trend Tuesday (Feb. 1), on the back of optimism emanating from international markets. By the end of the trading session, the UX exchange added 2.12%. Total trading volume came in at UAH 216 mln. The bulk of index growth was provided by Ukrnafta (UNAF), which shot up 4.01%. Centerenergo (CEEN) was another top contributor with an impressive 2.74% pick up. The banking sector also solidified a notable advance: USCB +1.85%, BAVL +1.62%. Metals and mining companies (ALMK +1.82%, AZST +1.45%, ENMZ +1.41%, YASK +1.27%, AVDK +0.86%) followed the general positive trend; however, gains were on the moderate side. Both Ukrtelecom (UTLM +1.04%) and Motor Sich (MSICH +0.59%) kept up the pace, while results were weakest for Zakhidenergo (ZAEN +0.16%).

In London, Cadogan Petroleum (CAD LN) soared 22.72% amidst changes in the shareholder structure. JKX Oil & Gas (JKX LN +1.1%) kept inching upwards. Prices hiked for Ferrexpo (FXPO LN +3.86%), while MHP (MHPC LI +0.57%) made a humble advance. In Warsaw, Astarta (AST PW -1.16%) kept to a downward trajectory, while Agroton (AGT PW +0.05%) and Kernel (KER PW +0.12%) managed to eke out gains.

Politics: Ukraine’s Parliament extends its tenure, pushes election to 2012
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Metals and Mining: Ukrainian coke producers finish January flat