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Wednesday, November 28, 2012

Warsaw Market & Carbon Watch - Wednesday 28 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 (+0.12%), generally in line with the main European markets (FTSE +0.22%, STOXX +0.04%, CAC +0.03%, DAX +0.55%, IBEX -0.14%) and above the U.S. markets (DOW -0.69%, S&P -0.52%, NASDAQ -0.30%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index outperformed the main Warsaw equities index, closing up (+2.51%) for the day with gains in Ovostar, Westa, KSG Agro, Astarta, Kernel, Milkiland and IMC driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya Group (1,268,637 shares), Kernel (219,691 shares) and Westa International Scientific Group (173,696 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): 44655.24 (+0.12%)
WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  657.42 (+2.51%) 

Ovostar Union NV (OVO PW):  84.25 (+6.65%)
Kernel Holding SA (KER PW):  66.20 (+2.00%)
Agroton Public Limited (AGT PW):  9.55 (-2.35%)
Astarta Holding NV (AST PW):  61.65 (+4.49%)
Industrial Milk Co (IMC PW):  14.45 (+1.05%)
KSG Agro SA (KSG PW):  10.70 (+4.90%)
Milkiland (MLK PW):  15.50 (+1.64%)
KDM Shipping Plc (KDM PW):  26.40 (-1.82%)
Coal Energy SA (CLE PW): 10.35 (unch)
Sadovaya Group SA (SGR PW):  2.00 (-6.98%)
Westa Intl Scientific Group (WES PW):  1.03 (+6.19%)

Carbon Trading

The ICE daily CER firmed 2 cents on Tuesday, closing at 0.81 EURO (+2.53%).  As expected, traders are try to squeeze whatever optimism they can from the market during Doha, before the gloom sets back in.  In America, Obama has already sent the signal he's not aggressive on global climate change cooperation by signing a bill that shields the country's airlines from carbon offsetting laws in the EU.  Cheap ERUs and CERs continue to flood the market and it looks to accelerate for the rest of the year.  This looks to be a good week to sell carbon especially if the Doha conference ends inconclusively, as prior similar conference outcomes would predict.