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Tuesday, September 7, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets traded marginally higher Monday (Sep. 6), in line with the trend set on European markets. The UX exchange climbed 0.22%, but action was subdued as a result of US markets being closed for Labor Day. Total trading volume on the UX came in at UAH 54 mln. Ukrnafta (UNAF) was among the most notable gainers, spiking 0.93%. Banks (BAVL +0.75%, USCB +0.70%) and coke producers (AVDK +0.74%, YASK +0.81%) also outperformed the market. Steel stocks closed mixed with Alchevsk Steel (ALMK) adding 0.06%, Azovstal (AZST) dropping 0.27% and Enakievo (ENMZ) losing 0.67%. Centerenergo (CEEN -0.79%) and Ukrtelecom (UTLM -0.19%) finished in the red.

Ukrainian stocks traded on international markets recorded mixed dynamics. Ferrexpo (FXPO LN -2.5%) had the weakest showing among London-listed shares. JKX Oil & Gas (JKX LN) dropped 0.83%, while Regal (RPT LN +0.73%), Cadogan (CAD LN +1.52%) and MHP (MHPC LI +0.73%) finished in positive territory. In Warsaw, Astarta (AST PW) surged 2.9% and Kernel (KER PW) slid 2.02%.

Trading on the Ukrainian Eurobond market was negligible Monday due to markets being closed in the US for Labor Day.



Macro: Inflation in Ukraine rises to 1.2% M-o-M
Coke: Avdiivka to increase coke output in September, Yasynivka to stay flat