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Saturday, February 19, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets traded sideways on Thursday (Feb. 17). The UX exchange closed with a 1.07% gain on a total trading volume of UAH 195 mln. Ukrnafta (UNAF) took charge with an impressive 2.25% hike. GenCos also took a step up with Centerenergo (CEEN) appreciating by 1.56% and Zakhidenergo (ZAEN) inching up 0.25%. Motor Sich (MSICH) slowed its striking growth pace set over the past few days with a 0.5% advance. Raiffeisen Bank Aval (BAVL +0.42%) also closed in the red, while its peer Ukrsotsbank (USCB -0.78%) moved in the opposite direction. Ukrtelecom (UTLM -0.27%) took a slight dip, while metals and mining names weighed on the index basket with deepening losses: AVDK -1.99%, AZST -1.45%, ALMK -1.11%, YASK -1.03%, ENMZ -0.24%.

In London, gains came in for Ukrainian oil and gas names: Regal Petroleum (RPT LN) added 1.38%, Cadogan Petroleum (CAD LN) advanced 1.16% and JKX Oil & Gas (JKX LN) inched up 0.88%. Notable positive ground was broken by Ferrexpo (FXPO LN +1.62%), while MHP (MHPC LI +2.09%) made another impressive vault. In Warsaw, Agroton (AGT PW +0.91%) closed in the black, while Astarta (AST PW) closed flat and Kernel (KER PW -0.66%) shed.


Macro: Ukraine’s economic growth up to 6% Y-o-Y in January