Warsaw Market & Carbon Watch - Friday 2 October

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 was closed yeserday for trading, while the European markets closed on a positive note (FTSE +1.37%, STOXX +1.21%, CAC +1.35%, DAX +1.03%, IBEX +0.55%) along with the U.S. markets (DOW +1.04%, S&P +1.09%, NASDAQ +1.44%).

Carbon Trading

ICE daily CER price flopped to 1.00 EURO (-17.36%) on the back of a failed agreement by EU Member States to limit excess AAUs and ERUs from affecting the EU ETS post 2012.  The failure means it looks bad for anything meaningful happening in Doha.  It's not a huge surprise but it's a significant disappointment as carbon regulators once again fail to miss an opportunity to miss an opportunity to save their market.  There are signs that post Hurricane Sandy the USA is finally taking its head out of the sand regarding climate change, and the natural disaster provided several affected states with a "moment of clarity" via Mother Nature's rough intervention.  But this is a long story that's just beginning, so while one can expect higher than usual hype around America's remarks at Doha later this year, and some trading optimism around that... the real price swings will be downwards due to EU decision paralysis and probably negative statements from Russia, the CIS and countries such as Japan and/or China.

Warsaw Market & Carbon Watch - Thursday 1 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 flat on the day (-0.02%), in line with the European markets (FTSE -1.15%, STOXX -0.49%, CAC -0.87%, DAX -0.33%, IBEX +0.11%) and the U.S. markets (DOW -0.08%, S&P +0.02%, NASDAQ -0.36%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, they slightly outperformed the main Warsaw equities index, closing up (+0.67%) for the day with gains in IMC, Kernel, Astarta, Agroton and Milkiland driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Westa International Scientific Group (316,255 shares), Kernel (80,246 shares) and Sadovaya Group (56,404 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): 43232.44 (-0.02%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  702.14 (+0.67%) 

Ovostar Union NV (OVO PW):  96.00 (-0.83%)

Kernel Holding SA (KER PW):  66.80 (+1.21%)

Agroton Public Limited (AGT PW):  11.00 (+1.10%)

Astarta Holding NV (AST PW):  64.00 (+1.11)

Industrial Milk Co (IMC PW):  16.70 (+1.64%)

KSG Agro SA (KSG PW):  12.59 (-0.87%)

Milkiland (MLK PW):  16.61 (+0.06%)

KDM Shipping Plc (KDM PW):  27.30 (unch)

Coal Energy SA (CLE PW): 14.19 (-2.07%)

Sadovaya Group SA (SGR PW):  2.72 (-1.09%)

Westa Intl Scientific Group (WES PW):  1.07 (-1.83%)

Carbon Trading

ICE daily CER price consolidated further to 1.21 EURO (+13.08%).  The market is long, gains are due to traders rolling their options, and it will take a joint political decision by the EU Member States and/or Kyoto countries in Doha to save carbon credits from repeating their downward trend this year.

Warsaw Market & Carbon Watch - Wednesday 31 October

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 up on the day (+0.15%), in line with the European markets (FTSE +0.95%, STOXX +1.50%, CAC +1.48%, DAX +1.13%, IBEX +1.36%) and the U.S. markets were closed for a second day due to severe weather.  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, they slightly underperformed the main Warsaw equities index, closing slightly down (-0.17%) for the day with gains in Industrial Milk Co., Sadovaya, Astarta, Ovostar and KDM Shipping not quite overcoming red and white screens across the rest of the index's weighted names.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya Group (101,149 shares), Kernel (95,186 shares) and Westa International Scientific Group (46,106 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): 43240.07 (+0.15%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  697.44 (-0.17%) 

Ovostar Union NV (OVO PW):  96.80 (+0.41%)

Kernel Holding SA (KER PW):  66.00 (-2.37%)

Agroton Public Limited (AGT PW):  10.88 (-2.77%)

Astarta Holding NV (AST PW):  63.30 (+2.10%)

Industrial Milk Co (IMC PW):  16.43 (+7.74%)

KSG Agro SA (KSG PW):  12.70 (-1.70%)

Milkiland (MLK PW):  16.60 (-1.95%)

KDM Shipping Plc (KDM PW):  27.30 (+0.07)

Coal Energy SA (CLE PW): 14.49 (-0.07%)

Sadovaya Group SA (SGR PW):  2.75 (+4.56%)

Westa Intl Scientific Group (WES PW):  1.09 (-1.80%)

Carbon Trading

ICE daily CER price saw another day of cautious gains, reaching 1.07 EURO (+5.94%).  This can be viewed as consolidation after several weeks of the market getting pummeled.  Carbon is still long and positive sentiment about a 1.2 billion EUA set aside in the EU ETS can be instantly lost as soon as one nation publicly states is won't support the motion - which must be unanimous to become binding.