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Wednesday, November 21, 2012

Warsaw Market & Carbon Watch - Wednesday 21 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 on the positive side for the second day (+0.16%), in line with the main European markets (FTSE +0.18%, STOXX +0.58%, CAC +0.65%, DAX +0.69%, IBEX +0.19%) and most U.S. markets (DOW -0.06%, S&P +0.07%, NASDAQ +0.02%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, they underperformed the main Warsaw equities index, closing down (-1.25%) for the day with gains in IMC unable to offset otherwise red and white screens for weighted names.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya Group (463,123 shares), Westa International Scientific Group (103,889 shares) and Kernel (36,573 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): 44438.93 (+0.16%)
WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  637.04 (-1.25%) 

Ovostar Union NV (OVO PW):  78.00 (unch)
Kernel Holding SA (KER PW):  65.30 (-1.58%)
Agroton Public Limited (AGT PW):  10.13 (-3.52%)
Astarta Holding NV (AST PW):  56.90 (unch)
Industrial Milk Co (IMC PW):  14.51 (+0.07%)
KSG Agro SA (KSG PW):  8.95 (-3.66%)
Milkiland (MLK PW):  14.99 (-0.07%)
KDM Shipping Plc (KDM PW):  26.99 (-0.41%)
Coal Energy SA (CLE PW): 11.15 (-4.70%)
Sadovaya Group SA (SGR PW):  1.71 (-6.56%)
Westa Intl Scientific Group (WES PW):  1.02 (-1.92%)

Carbon Trading

ICE daily CER price fell to 0.81 EURO (-7.95%).  With constant new ERU and CER supply hitting everyday, the market remains significantly long.  We are now 3 trading days from the Kyoto Protocol conference in Doha, and it seems we're witnessing some optimism prior to the inevitable post-conference disappointment.  Participants seem to be pinning their hopes on supply constraint decisions which could take a long time to materialize.