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Monday, November 26, 2012

Warsaw Market & Carbon Watch - Monday 26 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 positively for the day (+0.71%), in line with the main European markets (FTSE +0.49%, STOXX +0.87%, CAC +0.87%, DAX +0.89%, IBEX +0.43%) and the U.S. markets (DOW +1.35%, S&P +1.30%, NASDAQ +1.38%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index performed concurrent to the main Warsaw equities index, closing up (+0.70%) for the day with gains in Kernel, KSG Agro, KDM Shipping and Astarta carrying the day.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya Group (1,348,740 shares), Westa International Scientific Group (66,339 shares) and Kernel (32,259 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): 44436.63 (+0.71%)
WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  638.95 (+0.70%) 

Ovostar Union NV (OVO PW):  78.00 (unch)
Kernel Holding SA (KER PW):  66.20 (+3.52%)
Agroton Public Limited (AGT PW):  9.95 (-0.50%)
Astarta Holding NV (AST PW):  57.80 (+0.09%)
Industrial Milk Co (IMC PW):  13.70 (-4.86%)
KSG Agro SA (KSG PW):  9.87 (+2.28%)
Milkiland (MLK PW):  14.90 (-3.87%)
KDM Shipping Plc (KDM PW):  26.89 (-2.20%)
Coal Energy SA (CLE PW): 10.20 (-5.56%)
Sadovaya Group SA (SGR PW):  1.83 (-3.68%)
Westa Intl Scientific Group (WES PW):  1.00 (unch)

Carbon Trading

The ICE daily CER firmed 2 cents on Friday, closing at 0.84 EURO (+2.44%).  Trading seemed to be mostly short covering and pre-Doha optimism.  With constant new ERU and CER supply hitting everyday, the market remains significantly long.  Today is the first day of the Kyoto Protocol conference in Doha, but barring a miracle it looks to become an unresolved disappointment like similar conferences before it.  It seems like trading regimes are migrating from global to regional mechanisms, each with their own bilateral integration process.  Without meaningful commitments from current Kyoto countries like Russia and China, the market awaits the USA to step up.  But that political process has been frustratingly slow as America's mainstream media and government -- until Hurricane Sandy -- fairly could be referred to as loud climate change skeptics.