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Tuesday, October 16, 2012

Warsaw Market & Carbon Watch - Tuesday 16 October

Greetings from Kiev!  Here is this morning’s Ukrainian stock performance summary, from the Warsaw Stock Exchange, based on the prior trading day's closing bell.  As a whole, the Warsaw Stock Exchange closed green on the day (+0.14%), in line with similar results on the European markets (FTSE +0.21%, STOXX +0.65%, CAC +0.92%, DAX +0.40%, IBEX +0.34%) and the U.S. markets (DOW +0.72%, S&P +0.81%, NASDAQ +0.66%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, they experienced profit taking after the previous day's gains -- closing down (-0.59%) for the day, with decreases in metals/mining, energy, and certain weighted agriculture and food production names.  From a market depth standpoint, trading was light however the highest trading volumes occurred in Westa International Scientific Group (182,403 shares), Sadovaya Group (26,931 shares) and Kernel (10,894 shares).

For specific results kindly see the table below, prices denoted in Polish currency (Zlotys).  Cheers – Jon

WSE WIG Index (total return index for Warsaw Stock Exchange listed companies): 44050.69 (+0.14%)
WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  707.99 (-0.59%) 

Ovostar Union NV (OVO PW):  100.00 (+2.04%)
Kernel Holding SA (KER PW):  63.55 (-1.47%)
Agroton Public Limited (AGT PW):  12.15 (+1.25%)
Astarta Holding NV (AST PW):  65.00 (unch)
Industrial Milk Co (IMC PW):  15.55 (-0.89%)
KSG Agro SA (KSG PW):  14.16 (-0.21%)
Milkiland (MLK PW):  16.60 (-0.90%)
KDM Shipping Plc (KDM PW):  28.28 (+8.35%)
Coal Energy SA (CLE PW): 16.60 (-1.48%)
Sadovaya Group SA (SGR PW):  4.60 (-1.08%)
Westa Intl Scientific Group (WES PW):  0.97 (-4.90%)

Carbon Trading

ICE daily CER price dropped significantly again as the market still reels from 17.6 million new ERUs hitting the market from Ukraine, closing down at 1.49 EURO (-12.35%).  With no new demand, no regulatory market support decisions in sight, and constant new ERU and CER supply expected to keep hitting the market, one can expect more downward price pressure on U.N. carbon credits and also for spreads to widen between ERUs and CERs during coming weeks.

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