Daily Market Brief

Market Comment

Ukrainian equity markets started the week in a bearish mood on Monday (Nov 8) pulling back from last week’s rally. The UX exchange plunged 3.10% on a high trading volume of UAH 193 mln. Metals and mining stocks (AVDK -0.74%, AZST -2.90%, ENMZ -4.02%) and GenCos (CEEN -3.41%) traded lower, led by Alchevsk Steel (ALMK -7.63%) and Zakhidenergo (ZAEN -8.5%). Ukrtelecom (UTLM -3.8%) also was among the biggest laggards, the trend was also followed by banks (BAVL -4.03%, USCB -2.8%), Motor Sich (MSICH -1.23%) and Ukrnafta (UNAF -1.96%).

Among Ukrainian stocks listed on international markets Regal Petroleum (RPT LN) was the hardest hit , losing 6.56%. Cadogan Petroleum (CAD LN) and JKX Oil & Gas (JKX LN) posted strong gains of 1.28% and 4.84% respectively. Ferrexpo (FXPO LN +1.01%) closed firmer while food processing stocks showed mixed dynamics: MHPC LI -0.13%, AST PW -0.06%, KER PW +0.91%.
Agroton (AGT PW) shares started trading yesterday on Warsaw Stock Exchange. The company completed IPO of 26.2% stake last month.


Macro: Ukraine’s inflation decelerates to 0.5% M-o-M
Macro: Ukraine’s domestic production grows 5%
Macro: Corporate income tax to decrease to 23% in 2011

Daily Market Brief

Market Comment

Ukrainian equity markets closed stronger on Friday (Nov 5) boosted by upbeat unemployment statistics from the US. The UX exchange rose steadily during the day to finish 2.71% higher. Trading volume hit a new high of UAH 267 mln. Particular attention was paid to Zakhidenergo (ALMK) - the stock skyrocketed 18.09%. Other metals and mining stocks also weighed on broader market: AVDK +0.08%, AZST+6.58%, ENMZ +8.68%, YASK+6.09%. Other blue chips posted solid gains: CEEN +1.15%, MSICH +3.48%, UNAF +0.61%, USCB +5.57%, UTLM +1.63%. Reiffeisen Bank Aval (BAVL -0.05%) was the only blue chip to close in the red.

Among Ukrainian stocks, listed on international exchanges, oil and gas names moved in opposite directions: Regal Petroleum (RPT LN) gained 3.39%, while JKX Oil & Gas (JKX LN) and Cadogan Petroleum (CAD LN) lost 2.31% and 1.27% respectively. Ferrexpo (FXPO LN) added 2.27%. As for food processing stocks, Kernel slid 1.79%%, while Astarta (AST PW) inched up 0.77% and MHP (MHP LI) climbed 0.32%.


Macro: Budget deficit reaches UAH 52.8 bln over 9M10
Macro: Ukraine’s industry grows 11.5% Y-o-Y in October.

Daily Market Brief

Market Comment

Ukrainian equity markets closed on the upswing on Tuesday (Nov.2). The UX exchange opened in the red, but edged higher on upbeat sentiments from global markets. Trading activity also rose – total trading volume reached almost UAH 144 mln. Motor Sich (MSICH) hit a new high jumping 4.04%. Other gainers included Avdiivka Coke (AVDK +0.09%), Ukrnafta (UNAF +0.23%) Ukrsotsbank (USCB +0.99%) and Zakhidenergo (ZAEN +0.35%). Metals and mining stocks were among the most prominent losers: ALMK -2.75%, AZST -0.50%, ENMZ -1.65%, YASK -1.57%. Reiffeisen Bank Aval (BAVL), Centrenergo (CEEN) and Ukrtelecom(UTLM) came under pressure, losing 0.07%, 0.56% and 1.04% respectively.

Ukrainian stocks listed on international markets showed mixed dynamics. Among oil and gas companies, Regal Petroleum (RPT LN) skidded 9.68%, JKX Oil & Gas (JKX LN) advanced 1.03%, Cadogan Petroleum (CAD LN) hugged to the flat line. Ferrexpo (FXPO LN) inched up 0.21% while food processing stocks slid: KER PW -0.64%, MHPC LI -0.64%.


Fixed Income: Fitch assigns a B- issuer default rating to Rise
Metals and Mining: FXPO and SGOK decrease production M-o-M in October
Agriculture: Mriya plans to increase its landbank to 650,000 ha by 2013