Warsaw Market Watch

Greetings from Kiev!  Here is this morning’s Ukrainian stock performance summary, from the Warsaw Stock Exchange, based on yesterday’s closing bell.  As a whole, the Warsaw Stock Exchange performed slightly down on the day with a slight decrease -0.99% after two days of moderate gains.  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, they performed down 2.31%, led mostly by slight net decreases in value for certain weighted names in the agriculture and food production sectors.

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): 43737.02 (-0.99%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  699.51 (-2.31%) 

Ovostar Union NV (OVO PW):  101.20 (-3.5%)

Kernel Holding SA (KER PW):  62.65 (-4.7%)

Agroton Public Limited (AGT PW):  11.26 (+1.9%)

Astarta Holding NV (AST PW):  65.80 (-1.1%)

Industrial Milk Co (IMC PW):  14.69 (unch)

KSG Agro SA (KSG PW):  12.20 (-4.2%)

Milkiland (MLK PW):  17.70 (+0.6%)

KDM Shipping Plc (KDM PW):  25.80 (+0.58%)

Coal Energy SA (CLE PW): 16.24 (-1.0%)

Sadovaya Group SA (SGR PW):  4.52 (+4.6%)

Westa Intl Scientific Group (WES PW):  0.76 (+24.6%)

Japan Approves New Renewable Energy Feed-In Tariffs

On June 18, Japan's Ministry of Industry approved the implementation of renewable energy feed-in tariffs.  These tariffs, set to last for at least 20 years, are among the highest in the world (see chart below) and they become effective from July onwards. Bloomberg New Energy Finance estimates that Japan's photovoltaic (PV) market alone could be worth at least 10 billion USD, with Japan poised to overtake Italy as the world's second largest solar energy market.

The new Japanese green tariffs require utility companies to purchase electricity from renewable sources, such as wind, solar, biomass, geothermal and different forms of biomass.  Japan's government views this requirement as a positive step towards reducing its historic reliance on nuclear power and thereby mitigate against a potential future "nature+nuclear" national catastrophe a la Fukushima.

Japan only generates about 1% of its energy from renewable sources at present, but analysts predict that the country should unlock at least 30 billion USD in fresh renewable energy investment by means of these new tariffs. It will be interesting to watch how feed-in tariff policies evolve in the USA and other major economies -- much work still needs to be done in order to reduce our global dependence on greenhouse gas emitting fossil fuels.

Cheers -- Jon

ECOSMART-2012 2nd International Forum of Clean Technologies in Kiev Ukraine

From the ECOSMART website (www.ecosmart-ua.com):

"In continuation of the success of the ECOSMART-2011 forum, which Ukrainian Event Awards titled as the best international event in Ukraine for the previous year, ECOSMART-2012 gathers top management of environmentally responsible companies and organizations, as well as owners and managers of “green” business, to create a powerful impetus for sustainable economic development and stimulation the development of new niches in the leading industries of Ukraine, development of high-grade segment of clean technologies in Eastern Europe."

This promises to be another great event this year, so if you haven't already RSVPd and you will be in Kiev during this time period, you should go for it!

Cheers
Jon