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Tuesday, November 30, 2010

Daily Market Brief

Market Comment

Ukrainian equity markets closed mixed on Monday (Nov. 29). The PFTS finished with a near one-point gain, while the UX exchange (-0.07%) fell just on the wrong side of the fence. Total trading volume on the UX remained high at UAH 169 mln. Blue chips predominantly ended the session in negative territory led by Ukrsotsbank (USCB -1.86%), Stahanov Car Production Facility (SVGZ -1.86%), Forum Bank (-1.47%) and Ukrtelecom (UTLM -1.03%). With the exception of Enakievo Steel (ENMZ +0.14%), metals and mining names dropped slightly: ALMK -0.12%, AVDK -0.45%, AZST -0.87%, YASK -1.01%. Ukrnafta continued to tack on gains, rising 1.31%. Zakhidenergo (ZAEN +2.57%) and Raiffeisen Bank Aval (BAVL +0.62%) were also among the day’s winners.

Ukrainian stocks posted mixed results on international markets. In oil and gas names, Cadogan (CAD LN) saw its price skyrocket 5%, while investors fixed profits on Regal Petroleum (RPT LN) – the stock plummeted 12.82%. Also in London, JKX Oil & Gas (JKX LN -1.44%) slid, Ferrexpo (FXPO LN -3.5%) dropped significantly, and MHP SA (MHPC LI +1.17%) turned in a solid performance. In Warsaw, Astarta (AST PW) and Agroton (AGT PW) lost 3.34% and 0.36% respectively. Kernel (KER PW) wrapped up the session by surging 2.27%.


Macro: Ukraine’s budget deficit breaks limit for 2010
Oil & Gas: Ukrainian Court grants Ukrnafta claim
Metals and Mining: Court confirms $20 mln in fines to be paid by Alchevsk Steel