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Friday, November 16, 2012

Warsaw Market & Carbon Watch - Friday 17 November

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 up on the day (+0.05%), outperforming most of the main European markets (FTSE -0.77%, STOXX -0.45%, CAC -0.52%, DAX -0.82%, IBEX +0.29%) and U.S. markets (DOW -0.23%, S&P -0.16%, NASDAQ -0.35%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, they performed below the main Warsaw equities index and more in line with global indexes, closing down (-1.09%) for the day with gains in Westa, Kernel and KSG Agro unable to offset red and white screens among other index names.  From a market depth standpoint, the highest trading volumes occurred in Westa International Scientific Group (158,242 shares) and Kernel (57,420 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): 43845.94 (+0.05%)
WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  654.64 (-1.09%) 

Ovostar Union NV (OVO PW):  87.00 (-7.45%)
Kernel Holding SA (KER PW):  66.00 (+1.54%)
Agroton Public Limited (AGT PW):  10.90 (-3.63%)
Astarta Holding NV (AST PW):  57.60 (-3.03%)
Industrial Milk Co (IMC PW):  15.00 (-1.64%)
KSG Agro SA (KSG PW):  11.28 (+1.26%)
Milkiland (MLK PW):  14.55 (-3.00%)
KDM Shipping Plc (KDM PW):  25.90 (unch%)
Coal Energy SA (CLE PW): 11.45 (-2.55%)
Sadovaya Group SA (SGR PW):  2.56 (-1.16%)
Westa Intl Scientific Group (WES PW):  1.00 (+2.04%)

Carbon Trading

ICE daily CER price fell again to 0.73 EURO (-5.90%).  The market remains significantly long and participants seem to be pinning their hopes on supply constraint decisions which could take a long time to materialize.  In the meantime expect more CER and ERU volume to hit the market between now and year end, coupled with even cheaper forms of UN offsets, pushing prices down and making a rally difficult.