Daily Market Brief

Market Comment

Ukrainian equity markets wavered between gains and losses on Tuesday (Nov.9). The UX exchange closed 0.69% higher on a high trading volume of UAH 150 mln. Zakhidenergo (ZAEN -7.48%) dragged the index lower, but solid gains in Centrenergo (CEEN +2.82%) and Ukrsotsbank (USCB +3.48%) shares offset losses. Most metals and mining stocks closed stronger: ALMK +1.56%, AZST +0.37%, YASK +0.90%. Motor Sich (MSICH +0.85%), Ukrnafta (UNAF +1.18%) and Ukrtelecom(UTLM +0.81%) followed suit. Avdiyivka Coke (AVDK -0.20%), Reiffesen Bank Aval (BAVL -0.40%) and Enakievo Steel (ENMZ -0.50%) posted slim losses.

Ukrainian stocks listed on the London Stock Exchange traded higher. JKX Oil & Gas (JKX LN) set the pace, soaring 4.35%. Cadogan Petroleum (CAD LN) added 1.27%, Ferrexpo (FXPO LN) advanced 1.78% and MHP (MHPC LI) gained 0.69%. In Warsaw, new Agroton (AGT PW) shares jumped 5.76%, Astarta (AST PW) climbed 1.15%, while Kernel (KER PW) slid 2.05%.


Fixed Income: Ferrexpo to renew Eurobonds offering
Fixed Income: FUIB receives bondholders consent for merger

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.