Ukrainian stock markets sunk deep into the red Wednesday (Aug. 11) as negative data out of China and the US shook investors’ faith in economic recovery. The UX exchange (-3.26%) opened sharply lower, driven down by steel producers (ALMK -5.05%, AZST -5.29%, ENMZ -5.71%). Coke names (AVDK -3.20%, YASK -4.91%) posted steep losses with banks (BAVL -4.03%, USCB -3.21%) and GenCos (CEEN -3.82%, ZAEN -0.72%) following suit. Nearly all blue chips suffered heavy blows including Motor Sich (MSICH -3.35%), Ukrnafta (UNAF -2.70%) and Ukrtelecom (UTLM -1.53%).
Ukrainian stocks listed on international markets also came under selling pressure. Ferrexpo (FXPO LN) was among the worst performers – the stock lost 5.8%. Oil and gas names closed slightly lower (CAD LN -1.47%, RPT LN -2.96%, JKX LN unch.). Food processing stocks were not immune to the general decline: MHPC LI -2.13%, AST PW -0.16%, KER PW -0.64%.
Sellers were out in force on the Ukrainian Eurobond market Wednesday. Sovereigns traded 0.25 to 0.75 p.p. lower. Naftogaz felt the heat, losing a point during the session. Metinvest and MHPSA were also among the worst performers, closing 0.5 to 1 p.p. down.
On the Russian space, sellers dominated with Russia 30 closing half a point lower. In the corporate sector, trading volumes were moderate with weaker pricing throughout the day. The Belorussian sovereign issue closed down on Wednesday, losing half a point.
Oil & Gas: Ukrnafta reports revised net profit for 1H2010
No comments:
Post a Comment