Market Comment
Ukrainian equity markets closed mixed on Tuesday (Feb. 15). While the PFTS managed to eke out a gain, the UX exchange (-0.32%) slipped into the red just before the close of the trading session. Total equity trading volume on the UX came in at a moderate UAH 194 mln. Motor Sich (MSICH) starred with a 2.39% surge. Other liquid stocks to close in the black included Ukrnafta (UNAF +0.23%) and Zakhidenergo (ZAEN +0.11%). Among banking names, Raiffeisen Bank Aval (BAVL) closed flat, while Ukrsotsbank (USCB -0.58%) took a step into negative territory. The crucial downwards pull on the index was made by metals and mining names (AZST -1.66%, ALMK -1.45%, ENMZ -1.38%, AVDK -1.17%, YASK -0.18%), with Ukrtelecom (UTLM -1.5%) and Centerenergo (CEEN -1.35%) adding significantly in the loss category.
In London, Cadogan Petroleum (CAD LN +3.61%) slowed the pace of its ascent, JKX Oil & Gas (JKX LN -0.07%) lowered a pinch, and Regal Petroleum (RPT LN -1.33%) corrected after yesterday’s surge. Both Ferrexpo (FXPO LN -1.03%) and MHP (MHPC LI -0.8%) kept on with negative trends. In Warsaw, agricultural companies did not break any significant ground, with Astarta (AST PW +0.53%) and Kernel (KER PW +0.6%) making inching up and Agroton (AGT PW) shedding 0.63%.
Macro: Ukraine’s GDP growth in 2010 estimated at 4.2% Y-o-Y
Fixed Income: Ukraine to sell ten-year Eurobonds
Metals and Mining: Alchevsk Steel to reprocess billets from captive steel works
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Wednesday, February 16, 2011
Daily Market Brief
Labels: Alternative Investments
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