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Thursday, February 28, 2013

Warsaw Market & Carbon Watch - Thursday 28 February

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.  The Warsaw Stock Exchange closed up (+0.81%), in line with the main European markets (FTSE +0.88%, STOXX +1.61%, CAC +1.92%, DAX +1.04%, IBEX +1.95%) band the U.S. markets (DOW +1.26%, S&P +1.27%, NASDAQ +1.04%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index over performed the main Warsaw equities index, closing up (+1.36%) with gains in Astarta, Sadovaya, Ovostar, KDM Shipping, Milkiland, IMC and Agroton driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Kernel (60,360 shares), Westa (40,124 shares) and Sadovaya (30,590 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): 46241.92 (+0.81%)
WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  693.27 (+1.36%) 

Ovostar Union NV (OVO PW):  96.50 (+2.66%)
Kernel Holding SA (KER PW):  65.70 (-0.23%)
Agroton Public Limited (AGT PW):  10.00 (+0.91%)
Astarta Holding NV (AST PW):  70.00 (+3.70%)
Industrial Milk Co (IMC PW):  16.20 (+0.93%)
KSG Agro SA (KSG PW):  10.89 (+0.28%)
Milkiland (MLK PW):  15.00 (+1.35%)
KDM Shipping Plc (KDM PW):  28.75 (+2.02%)
Coal Energy SA (CLE PW): 10.84 (-0.55%)
Sadovaya Group SA (SGR PW):  1.91 (+2.69%)
Westa Intl Scientific Group (WES PW):  0.61 (-3.17%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, however it went "bezerk" adding 14 Eurocents on screen to 0.31 EURO (+82.35%).  This was due to short squeeze trading on 5 million units volume.  The rest of the market remains beneath this price and ERUs are trading at far less than 20% of this price.  Only a political decision to address massive oversupply can turn things around and it looks like such a decision is becoming a long-shot in the EU ETS.  In the meantime, too many ERUs and CERs already flood the market and more are printed every month.

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