Warsaw Market & Carbon Watch - Friday 19 October

Greetings from Kiev!  Here is this morning’s Ukrainian stock performance summary, from the Warsaw Stock Exchange, based on the prior trading day's closing bell.  As a whole, the Warsaw Stock Exchange closed up on the day (+0.44%), against generally similar results in the European markets (FTSE +0.10%, STOXX +0.17%, CAC +0.22%, DAX +0.58%, IBEX -0.34%) and bearish U.S. markets (DOW -0.06%, S&P -0.24%, NASDAQ -1.01%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, they slightly outperformed the main Warsaw equities index, closing up (+0.55%) for the day with gains in energy, agriculture and metals/mining names driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Westa International Scientific Group (2,053,658 shares) and Kernel (34,495 shares).

For specific results kindly see the table below, prices denoted in Polish currency (Zlotys).  Cheers – Jon

WSE WIG Index (total return index for Warsaw Stock Exchange listed companies): 44550.12 (+0.44%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  714.70 (+0.55%) 

Ovostar Union NV (OVO PW):  99.80 (-0.20%)

Kernel Holding SA (KER PW):  65.20 (+2.68%)

Agroton Public Limited (AGT PW):  11.24 (-2.77%)

Astarta Holding NV (AST PW):  64.90 (-2.77%)

Industrial Milk Co (IMC PW):  16.70 (+7.74%)

KSG Agro SA (KSG PW):  13.50 (-3.23%)

Milkiland (MLK PW):  16.87 (-1.35%)

KDM Shipping Plc (KDM PW):  27.30 (-3.47%)

Coal Energy SA (CLE PW): 16.13 (-0.98%)

Sadovaya Group SA (SGR PW):  4.48 (+0.67%)

Westa Intl Scientific Group (WES PW):  1.28 (+28.00%)

Carbon Trading

ICE daily CER price kept trading in range, dropping to 1.45 EURO (-9.38%).  Folks, there are simply too many carbon credits hitting the market currently and participants know this.  The market is fundamentally long and it's going to stay this way for a while until protective regulatory steps are taken.