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Friday, March 1, 2013

Warsaw Market & Carbon Watch - Friday 1 March

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 on the positive side (+0.08%), in line with the main European markets (FTSE +0.55%, STOXX +0.83%, CAC +0.85%, DAX +0.86%, IBEX +1.15%) and better than the U.S. markets (DOW -0.15%, S&P -0.09%, NASDAQ -0.07%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index underperformed the main Warsaw equities index, closing down (-1.95%) with gains in KDM Shipping, Westa, Sadovaya, Ovostar and IMC unable to carry the day.  From a market depth standpoint, the highest trading volumes occurred in Kernel (234,721 shares), Sadovaya (41,067 shares), Astarta (37,755 shares) and Westa (33,970 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): 46280.36 (+0.08%)
WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  679.75 (-1.95%) 

Ovostar Union NV (OVO PW):  97.00 (+0.52%)
Kernel Holding SA (KER PW):  65.10 (-0.91%)
Agroton Public Limited (AGT PW):  9.98 (-0.20%)
Astarta Holding NV (AST PW):  66.50 (-5.00%)
Industrial Milk Co (IMC PW):  16.25 (+0.31%)
KSG Agro SA (KSG PW):  10.60 (-2.66%)
Milkiland (MLK PW):  15.00 (unch%)
KDM Shipping Plc (KDM PW):  29.79 (+3.62%)
Coal Energy SA (CLE PW): 10.50 (-3.14%)
Sadovaya Group SA (SGR PW):  1.93 (+1.05%)
Westa Intl Scientific Group (WES PW):  0.63 (+3.28%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, losing 4 Eurocents after having been driven up 14 Eurocents the previous day due to a short squeeze.  It finished the day at 0.27 EURO (-12.90%).  The rest of the market remains beneath this price and ERUs are trading around 25% 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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