Daily Market Brief

Market Comment

The rebound was on for Ukrainian equity markets yesterday (Mar. 16). Following a weeklong skid the UX exchange returned to positive territory with a 1.6% advance. Equity trading volume was moderate at UAH 200 mln. The resurgence was led by volume leaders Motor Sich (MSICH +1.87%) and Ukrnafta (UNAF +2.99%). GenCos (CEEN +1.48%, DOEN +1.64%, ZAEN +3.53%) were among the session’s top gainers. With the exception of Yasynivka Coke (YASK -0.41%), metals and mining stocks (ALMK +0.8%, AZST +1.23%, ENMZ +1.39%) gained ground. Banks (BAVL +1.07%, USCB +1.81%), Ukrtelecom (UTLM +0.93%) and Stirol (STIR +2.38%) fell in line with the general advance.

In London, Ukrainian oil and gas stocks reported mixed results: Cadogan Petroleum (CAD LN +3.36%) and Regal Petroleum (RPT LN +1.27%) won back most of the previous session’s losses, while JKX Oil & Gas (JKX LN -2.01%) continued to fade. Ferrexpo (FXPO LN +0.96%) inched into the black, and MHP (MHPC LI -2.78%) suffered a notable decline. In Warsaw, Agroton (AGT PW +0.82%) and Astarta (AST PW +1.9%) ended on a positive note, while Kernel (KER PW -1.78%) slid


Macro: Ukraine’s GDP growth up to 7% in February
Metallurgy: Ukrainian steel production to intensify in April

Daily Market Brief

Market Comment

Ukrainian equity markets took a pounding yesterday (Mar. 15), as investors continued to turn their backs on stocks following the devastation in Japan. The UX exchange (-3.19%) fell more than 80 points on a hefty equity trading volume of UAH 245 mln. Motor Sich (MSICH -6.08%) led the plunge for yet another session; the stock has dropped more than 13% over the past week. Metals and mining companies (ALMK -5.01%, AZST -4.14%, YASK -5.78%, ENMZ -6.8%), GenCos (CEEN -5.55%, DOEN -6.73%, ZAEN -3.55%) and Stirol (STIR -6.65%) took it on the chin. Banks (BAVL -3.15%, USCB -2.91%) and Ukrtelecom (UTLM -3.04%) did not fare much better. Ukrnafta (UNAF +0.79%) managed to avoid the fall, braced by news that shareholders would consider a 25% share capital increase at next week’s EGM.

On international markets, Ukrainian stocks were engulfed in the widespread selloff. Cadogan Petroleum (CAD LN -5.7%) suffered the most severely impact, while oil and gas peers Regal Petroleum (RPT LN -1.88%) and JKX Oil & Gas (JKX LN -2%) closed well into the red. Ferrexpo (FXPO LN -2.18%) reversed to losses, and MHP (MHPC LI -3.49%) continued its decline. In Warsaw, Agroton (AGT PW -3.23%) recorded a dramatic drop and Astarta (AST PW -0.95%) faded. Kernel (KER PW) managed to find support, and posted a noteworthy gain of 1.69%.


Fixed Income: Placement of Ukrainian Treasuries tops UAH 3.3 bln

Daily Market Brief

Market Comment

Volatile trading characterized Ukrainian stock markets yesterday (Mar. 14), as investors across Europe continued to size up the economic ramifications of the earthquake and tsunamis in Japan. The UX exchange (-1.29%) extended what has become a weeklong slide. Total equity trading volume came in at a moderate UAH 183 mln. Late session surges by Ukrnafta (UNAF +0.12%) and Ukrtelecom (UTLM +0.86%) were not enough to hoist the exchange into positive territory, as volume leader Motor Sich (MSICH -2.23%) weighed heavily on the market. Stirol (STIR -2.41%), GenCos (ZAEN -1.62%, CEEN -2.26%, DOEN -2.77%) and metals and mining names (ENMZ -3.1%, AZST -1.64%, YASK -0.95%%, AVDK -2.62%) dragged the exchange even deeper into the red.

In London, Ukrainian oil and gas producers reported mixed results, with Regal Petroleum (RPT LN +1.25%) and JKX Oil & Gas (JKX LN +2.54%) winning back the previous session’s losses, and Cadogan Petroleum (CAD LN -0.3%) shedding. Ferrexpo (FXPO LN +2.04%) continued its rise, while MHP (MHPC LI -2.36%) sunk deeper. In Warsaw, Astarta (AST PW -0.31%) and Kernel (KER PW -0.37%) slid, and Agroton (AGT PW +0.51%) made a slight turnaround.


Oil & Gas: Ukrnafta to consider share capital increase