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Wednesday, March 2, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets closed mixed on Tuesday (Mar. 1). The PFTS recorded a modest rise, while the UX exchange lost 1.05% on the back of a solid equity trading volume of UAH 230 mln. Stocks listed on the UX lost between one and three percentage points across the board. GenCos (ZAEN -2.90%, CEEN -1.34%), metals and mining names (AVDK -2.62%, AZST -2.51%, ENMZ -1.91%, ALMK -1.57%, YASK -0.14%) and banks (BAVL -2.17%, USCB -1.57%) all declined steadily. Even Ukrnafta (UNAF -1.45%) fell off its high horse. In contrast, Ukrtelecom (UTLM -0.27%) and Motor Sich (MSICH -0.08%) dipped just below the flat line.

It was an impressive day for oil and gas names in London: Cadogan Petroleum (CAD LN) soared 5.13%, while JKX Oil & Gas (JKX LN +1.71%) and Regal Petroleum (RPT LN +1.32%) posted notable gains. Ferrexpo (FXPO LN +0.81%) recorded a moderate growth pace, and MHP (MHPC LI +1.33%) accelerated. In Warsaw, Kernel (KER PW -0.12%) shed, while Astarta (AST PW +0.75%) and Agroton (AGT PW +0.27%) closed in the black.


Fixed Income: Oschadbank places benchmark Eurobonds
Metals and Mining: Ukrainian steelmakers: Some hot, some not
Metals and Mining: Daily coke output in Ukraine remains unchanged in February
Metals and Mining: SGOK increases daily pellet output by 6% in February