Daily Market Brief

Market Comment

A bearish mood prevailed on Ukrainian equity markets Thursday (Sep. 30). The UX exchange fell 0.68% led by a decline in shares of metals and mining (ALMK -1.17%, AVDK -1.17%, AZST -0.37%, ENMZ -0.87%, YASK -1.35%) and banks (BAVL -1.40%, USCB -2.75%). Total trading volume was high for a second straight session, reaching UAH 94 mln. GenCos closed mixed with Centerenergo (CEEN) losing 1.15% and Zakhidenergo (ZAEN) jumping 1.67%. Among other top-tier names, Motor Sich (MSICH) dropped 0.69%, Ukrtelecom (UTLM) slid 1.89% and Ukrnafta managed to add 0.02%.

The big story among Ukrainian names listed on international markets was Regal Petroleum (RPT LN). The stock plunged 27.34% on news that the Ukrainian government has suspended the company’s operations. It was business as usual for other oil and gas companies; JKX Oil & Gas (JKX LN) dropped 0.34% and Cadogan Petroleum (CAD LN) closed unchanged. Among other London-listed shares, Ferrexpo (FXPO LN) advanced 2.66% and MHP (MHPC LI) shed 0.66%. In Warsaw, Astarta (AST PW) declined 0.79% and Kernel (KER PW) finished flat.

All was quiet on the Ukrainian Eurobond market yesterday. Sovereigns traded flat for the bulk of the session, but lost slightly in price near the closing bell. Corporates remained at the same level, while banking names continued to show steady demand.


Metals and Mining: Khartsyzsk Tube becomes approved supplier of European companies

Daily Market Brief

Market Comment

Trading on Ukrainian equity markets was volatile Wednesday (Sep. 29). The UX exchange opened strong, but edged lower to lose 0.49% on the day. Total trading volume was moderate at UAH 73.5 mln. Banks were among the worst performers with Raiffeisen Bank Aval (BAVL) losing 1.09% and Ukrsotsbank (USCB) declining 1.72%. Most metals and mining names extended losses (ALMK -0.18%, AVDK -1.17%, AZST -0.26%); Enakievo (ENMZ) managed to inch up 0.11% and Yasynivka (YASK) finished flat. GenCos (CEEN -1.11%, ZAEN -0.72%) stumbled along with Motor Sich (MSICH -1.17%) and Ukrtelecom (UTLM -0.12%). Ukrnafta was the only bright spot among blue chips adding 1.59%.

Ukrainian stocks listed on international markets closed mixed. Investors favored oil and gas companies (CAD LN +3.75%, JKX LN +1.08%) and Ferrexpo (FXPO LN +3.33%). As for food-processing names, Kernel (KER PW +1.15%) advanced, while Astarta (AST PW -0.46%) and MHP (MHPC LI -0.86%) posted moderate losses.

Corporates rallied on the Ukrainian Eurobond market yesterday. The biggest gainers were MHPSA, DTEK, METINV and FIUKR – all names added nearly a point. Sovereigns also rose slightly in price.



Equity: Ukraine’s policymakers reconsider minority squeeze-out law
Macro: Ukraine's public debt repayment to equal UAH 69.4 bln in 2011

Daily Market Brief

Market Comment

Ukrainian equity markets closed in the red Tuesday (Sep. 28). The UX exchange wavered between gains and losses as investors were encouraged by German consumer confidence and U.K. economic growth stats; however, weaker-than-expected reports on US consumer confidence and regional manufacturing weighed the market down. Total trading volume came in at nearly UAH 94 mln. Led by Alchevsk Steel (ALMK -2.87%), metals and mining stocks (AVDK -0.85%, AZST -1.7%, ENMZ -0.29%, YASK -0.11%) were among the biggest laggards. Motor Sich (MSICH -1.73%) and Centerenergo (CEEN -1.63%) reversed to losses. Banks also added to the broad market decline: BAVL -1.01%, USCB -2.67%. Only Ukrnafta (UNAF +1.70%), Ukrtelecom (UTLM +0.72%) and Zakhidenergo (ZAEN +2.34%) finished in positive territory.

Ukrainian stocks listed on international markets showed mixed dynamics. Cadogan Petroleum (CAD LN +1.56%) was the most notable gainer, while its peers JKX Oil & Gas (JKX LN) and Regal Petroleum (RPT LN) lost 0.19% and 1.84% respectively. News concerning the new loan attracted by Ferrexpo (FXPO LN +0.38%) pushed the stock’s price slightly higher. MHP (MHPC LI +0.92%) also advanced. Warsaw-listed Astarta (AST PW -2.62%) and Kernel (KER PW -1.66%) traded in the red.

Trading activity was lower than average on the Ukrainian Eurobond market yesterday. Long-end sovereigns declined slightly. Municipals and most corporate papers remained flat. Good demand was observed for banks such as PRBANK, ALFAUA and FIUKR.


Fixed Income: Ukraine’s PM announces slash in VAT refunds
Metals and Mining: Khartsyzsk Tube to increase output in September-October
Metals and Mining: Ferrexpo raises $350 mln