Daily Market Brief

Market Comment

Ukrainian equity markets made a triumphant recovery on Friday (Feb. 25). The UX exchanged captured most of the ground lost during the previous trading session with an impressive 4.64% advance. Equity trading volume was moderate at UAH 239 mln. Ukrnafta (UNAF +7.91%) sprang back to life. Coke producers (YASK +5.81%, AVDK +4.38%) and Motor Sich (MSICH +4.6%) also demonstrated strong revivals. Banks (BAVL +4.33%, USCB +4.1%) surged, but could not undo all the damage taken on in previous sessions. Metals and mining names (AZST +3.40%, ENMZ +2.94%, ALMK +2.43%) grew moderately, compensating for the sell-off. GenCos (CEEN +2.22%, ZAEN +1.36%), on the other hand, made a half-hearted recovery. Ukrtelecom (UTLM +2.15%) continued to stride forward confidently, with a result supported by the general uplift.

In London, Regal Petroleum (RPT LN +0.66%) closed in the black, JKX Oil & Gas (JKX LN +2.6%) pushed forward strongly, but the real champion was Cadogan Petroleum (CAD LN +10.92%). Ferrexpo (FXPO LN +3.12%) made a significant jump, while the session did not end well for MHP (MHPC LI -1.28%). In Warsaw, Astarta (AST PW +5.24%) starred, while Kernel (KER PW +0.96%) and Agroton (AGT PW +0.76%) lagged with meager gains.


Macro: Current account reverses to surplus in January
Metals and Mining: Alchevsk Coke to increase daily production by 13% in March
Metals and Mining: Ferrexpo to double railcar fleet by 2013

Daily Market Brief

Market Comment

Selling pressure took hold of Ukrainian equity markets on Thursday (Feb. 24). The UX exchange lost 4.65% on a high total trading volume of UAH 297 mln. Ukrnafta (UNAF -8.03%), an index heavyweight, corrected sharply after an extended period of growth. Strong blows also rained down on Centerenergo (CEEN -4.24%), Motor Sich (MSICH -3.85%) and banks (BAVL -6.29%, USCB -5.36%). Metals and mining names (ALMK -4.21%, YASK -4.04%, AZST -3.42%, ENMZ -2.62%, AVDK -2.35%) were not immune to the sell-off. Zakhidenergo (ZAEN -2.54%) followed the general downward plunge, while Ukrtelecom (UTLM +0.39%) was the only liquid stock that managed to stay afloat.

In general, Ukrainian companies listed on international markets posted moderate losses. In London, the only oil and gas name to significantly drop was Cadogan Petroleum (CAD LN -6.58%), while JKX Oil & Gas (JKX LN -0.8%) stepped down lightly and Regal Petroleum (RPT LN 0.33%) closed with a slight advance. Ferrexpo (FXPO LN -2.53%) kept up its correction and MHP (MHPC LI -1.47%) came down a notch. In Warsaw, Astarta (AST PW -0.34%) dipped into the red, while Kernel (KER PW -1.88%) and Agroton (AGT PW -3.37%) slid more intensively.


GenCos: Zakhidenergo's installed capacity reduced by 100 MW
Oil & Gas: Ukrnafta’s March oil supplies priced at $88/bbl
Metals and Mining: SGOK to increase daily pellet output by 7%

Market Comment

Ukrainian equity markets sank lower Wednesday (Feb. 23). The UX index dropped 1.32% on a total trading volume of UAH 210 mln. Whopping downfalls by Centerenergo (CEEN -3.38%), Alchevsk Steel (ALMK -3.18%) and Ukrsotsbank (USCB -3.1%) were primarily responsible for the index’s drop. Raiffeisen Bank Aval (BAVL -0.99%) added to the drag. Motor Sich (MSICH -2.53%) continued a trend of sharp decline. Steelmakers Azovstal (AZST -0.86%) and Enakievo Steel (ENMZ -1.06%) kept their losses at a moderate level. Coke producers closed mixed: Yasynivka Coke (YASK -1.51%) deepened its fall, while Avdiivka Coke (AVDK +1.27%) lunged forcefully into the black. Following days of growth juxtaposed to the index’s negative trend, Ukrtelecom (UTLM -0.61%) recorded a meager loss. Ukrnafta (UNAF +0.58%) defied the market once again, and Zakhidenergo (ZAEN +0.85%) turned positive side up.

In London, a positive result came in for Regal Petroleum (RPT LN +1.33%), while Cadogan Petroleum (CAD LN -2.56%) kept rolling downhill and JKX Oil & Gas (JKX LN -0.33%) lingered just below the flat line. Ferrexpo (FXPO LN -3.48%) came under severe selling pressure and MHP (MHPC LI -1.34%) intensified it recent loss dynamics. In Warsaw, Astarta (AST PW +0.74%) emerged from the previous session’s slump, while Kernel (KER PW -0.44%) slid, and Agroton (AGT PW -2.06%) swallowed a red pill.


Oil & Gas: Ukrnafta shareholders to appoint western CEO