Warsaw Market & Carbon Watch - Thursday 28 February

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.  The Warsaw Stock Exchange closed up (+0.81%), in line with the main European markets (FTSE +0.88%, STOXX +1.61%, CAC +1.92%, DAX +1.04%, IBEX +1.95%) band the U.S. markets (DOW +1.26%, S&P +1.27%, NASDAQ +1.04%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index over performed the main Warsaw equities index, closing up (+1.36%) with gains in Astarta, Sadovaya, Ovostar, KDM Shipping, Milkiland, IMC and Agroton driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Kernel (60,360 shares), Westa (40,124 shares) and Sadovaya (30,590 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): 46241.92 (+0.81%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  693.27 (+1.36%) 

Ovostar Union NV (OVO PW):  96.50 (+2.66%)

Kernel Holding SA (KER PW):  65.70 (-0.23%)

Agroton Public Limited (AGT PW):  10.00 (+0.91%)

Astarta Holding NV (AST PW):  70.00 (+3.70%)

Industrial Milk Co (IMC PW):  16.20 (+0.93%)

KSG Agro SA (KSG PW):  10.89 (+0.28%)

Milkiland (MLK PW):  15.00 (+1.35%)

KDM Shipping Plc (KDM PW):  28.75 (+2.02%)

Coal Energy SA (CLE PW): 10.84 (-0.55%)

Sadovaya Group SA (SGR PW):  1.91 (+2.69%)

Westa Intl Scientific Group (WES PW):  0.61 (-3.17%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, however it went "bezerk" adding 14 Eurocents on screen to 0.31 EURO (+82.35%).  This was due to short squeeze trading on 5 million units volume.  The rest of the market remains beneath this price and ERUs are trading at far less than 20% of this price.  Only a political decision to address massive oversupply can turn things around and it looks like such a decision is becoming a long-shot in the EU ETS.  In the meantime, too many ERUs and CERs already flood the market and more are printed every month.

Warsaw Market & Carbon Watch - Wednesday 27 February

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.  The Warsaw Stock Exchange closed down (-0.90%), in line with the main European markets (FTSE -1.34%, STOXX -3.07%, CAC -2.67%, DAX -2.27%, IBEX -3.20%) but worse than the U.S. markets (DOW +0.84%, S&P +0.61%, NASDAQ +0.43%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index slightly tracked the main Warsaw equities index, closing down (-0.77%) with KDM Shipping the only winner for the day.  From a market depth standpoint, the highest trading volumes occurred in Kernel (71,823 shares) and Westa (33,175 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): 45868.35 (-0.90%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  683.96 (-0.77%) 

Ovostar Union NV (OVO PW):  94.00 (unch%)

Kernel Holding SA (KER PW):  65.85 (-0.53%)

Agroton Public Limited (AGT PW):  9.91 (-1.88%)

Astarta Holding NV (AST PW):  67.50 (unch%)

Industrial Milk Co (IMC PW):  16.05 (-2.07%)

KSG Agro SA (KSG PW):  10.86 (-3.64%)

Milkiland (MLK PW):  14.80 (-1.33%)

KDM Shipping Plc (KDM PW):  28.18 (+0.04%)

Coal Energy SA (CLE PW): 10.90 (-2.68%)

Sadovaya Group SA (SGR PW):  1.86 (-2.62%)

Westa Intl Scientific Group (WES PW):  0.63 (-1.56%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, addition two Eurocents to 0.17 EURO (+13.33%).  Actual volume is trading beneath this price and ERUs are trading at far less than 50% of this price.  Exchange listed prices are nothing more than advertisements or wishful thinking by a small group of ambitious traders trying to convince speculators that there is something happening... or posting prices to mark their portfolios above loss levels for accounting reasons.  Nobody is following these prices or trading at these levels.  Only a political decision to address massive oversupply can turn things around and it looks like such a decision is becoming a long-shot in the EU ETS.  In the meantime, too many ERUs and CERs already flood the market and more are printed every month.

Warsaw Market & Carbon Watch - Tuesday 26 February

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.  The Warsaw Stock Exchange closed up (+0.74%), in line with the main European markets (FTSE +0.31%, STOXX +0.83%, CAC +0.41%, DAX +1.45%, IBEX +0.80%) and better than the U.S. markets (DOW -1.55%, S&P -1.83%, NASDAQ -1.44%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index slightly underperformed the main Warsaw equities index, closing down (-0.32%) with gains in Westa, Astarta, IMC, Sadovaya and KDM Shipping unable to carry the day.  From a market depth standpoint, the highest trading volumes occurred in Westa (87,991 shares), Kernel (52,743 shares) and Sadovaya (49,066 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): 46286.28 (+0.74%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  689.27 (-0.32%) 

Ovostar Union NV (OVO PW):  94.00 (unch%)

Kernel Holding SA (KER PW):  66.20 (-2.43%)

Agroton Public Limited (AGT PW):  10.10 (unch%)

Astarta Holding NV (AST PW):  67.50 (+3.21%)

Industrial Milk Co (IMC PW):  16.39 (+1.17%)

KSG Agro SA (KSG PW):  11.27 (-2.17%)

Milkiland (MLK PW):  15.00 (-0.33%)

KDM Shipping Plc (KDM PW):  28.17 (+0.14%)

Coal Energy SA (CLE PW): 11.20 (-5.49%)

Sadovaya Group SA (SGR PW):  1.89 (+1.06%)

Westa Intl Scientific Group (WES PW):  0.64 (+8.47%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, gaining back the one yo-yo Eurocent to 0.15 EURO (+7.14%).  Actual volume is trading beneath this price and ERUs are trading at less than 50% of this price.  Exchange listed prices are nothing more than advertisements or wishful thinking by ambitious traders trying to convince speculators that there is something happening.  Nobody is following them.  Only a political decision to address massive oversupply can turn things around and after Monday, it looks like that decision is possibly not going to happen in the EU ETS.  EU lawmakers yesterday decided to put their back-loading plan to a full parliamentary vote before discussing it with individual country ministers - which at best means the plan is in serious trouble and at worse signals it's dead.  Nobody should be surprised at this twist given the EU's track record of whiffing on previous efforts.  In the meantime, too many ERUs and CERs already flood the market and more are printed every month.

Warsaw Market & Carbon Watch - Monday 25 February

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.  The Warsaw Stock Exchange closed up (+0.15%), in line with the main European markets (FTSE +0.70%, STOXX +1.95%, CAC +2.25%, DAX +1.03%, IBEX +2.05%) and U.S. markets (DOW +0.86%, S&P +0.88%, NASDAQ +0.97%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index slightly underperformed the main Warsaw equities index, closing down (-0.56%) with gains in KDM Shipping, Sadovaya, Ovostar, Agroton and Coal Energy unable to carry the day.  From a market depth standpoint, the highest trading volumes occurred in Westa (110,652 shares), Kernel (106,730 shares and Sadovaya (46,193 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): 45948.12 (+0.15%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  691.47 (-0.56%) 

Ovostar Union NV (OVO PW):  94.00 (+1.08%)

Kernel Holding SA (KER PW):  67.85 (-0.73%)

Agroton Public Limited (AGT PW):  10.10 (+0.60%)

Astarta Holding NV (AST PW):  65.40 (-0.83%)

Industrial Milk Co (IMC PW):  16.20 (unch%)

KSG Agro SA (KSG PW):  11.52 (-3.19%)

Milkiland (MLK PW):  15.05 (-1.89%)

KDM Shipping Plc (KDM PW):  28.13 (+3.46%)

Coal Energy SA (CLE PW): 11.85 (+0.17%)

Sadovaya Group SA (SGR PW):  1.89 (+2.72%)

Westa Intl Scientific Group (WES PW):  0.59 (-4.84%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, losing one Eurocent to 0.14 EURO (-6.67%).  Actual volume is trading beneath this price and ERUs are trading at less than 50% of this price.  Exchange listed prices are nothing more than advertisements or wishful thinking by ambitious traders trying to convince speculators that there is something happening.  Only a political decision to address massive oversupply can turn things around.  Too many ERUs and CERs have been issued already and more are printed every month, the market is swamped.

Warsaw Market & Carbon Watch - Friday 22 February

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.  The Warsaw Stock Exchange closed down for a third day (-0.37%), in line with the main European markets (FTSE -1.62%, STOXX -2.29%, CAC -2.29%, DAX -1.88%, IBEX -1.82%) and U.S. markets (DOW -0.34%, S&P -0.63%, NASDAQ -1.04%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index outperformed the main Warsaw equities index, closing up (+0.61%) with gains in Astarta, Milkiland, KDM Shipping and Kernel driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya (177,171 shares), Kernel (148,538 shares), Westa (81,414 shares) and Milkiland (49,425 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): 45879.90 (-0.37%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  695.38 (+0.61%) 

Ovostar Union NV (OVO PW):  93.00 (unch%)

Kernel Holding SA (KER PW):  68.35 (+0.44%)

Agroton Public Limited (AGT PW):  10.04 (-1.47%)

Astarta Holding NV (AST PW):  65.95 (+1.93%)

Industrial Milk Co (IMC PW):  16.20 (unch%)

KSG Agro SA (KSG PW):  11.90 (-1.65%)

Milkiland (MLK PW):  15.34 (+0.92%)

KDM Shipping Plc (KDM PW):  27.19 (+0.74%)

Coal Energy SA (CLE PW): 11.83 (-0.42%)

Sadovaya Group SA (SGR PW):  1.84 (-2.65%)

Westa Intl Scientific Group (WES PW):  0.62 (-4.62%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, gaining one Eurocent to 0.15 EURO (+7.14%).  Actual volume is trading beneath this price and ERUs are trading at less than 50% of this price.  Exchange listed prices are nothing more than advertisements or wishful thinking by ambitious traders trying to convince speculators that there is something happening.  There is little to no volume demand at these levels.  Only a political decision to address massive oversupply can turn things around.  Too many ERUs and CERs have been issued already for there to be any meaningful supply/demand intersection, and more are printed every month, the market is swamped.

Warsaw Market & Carbon Watch - Thursday 21 February

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.  The Warsaw Stock Exchange closed down for a second day (-0.94%), in line with mainly red screens across the main European markets (FTSE +0.26%, STOXX -0.83%, CAC -0.69%, DAX -0.30%, IBEX -0.76%) and U.S. markets (DOW -0.77%, S&P -1.24%, NASDAQ -1.53%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index outperformed the main Warsaw equities index, closing up (+0.35%) with gains in Astarta, Coal Energy and KDM Shipping driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya (169,429 shares), Westa (89,034 shares), Kernel (64,802 shares) and Milkiland (51,532 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): 46051.76 (-0.94%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  691.19 (+0.35%) 

Ovostar Union NV (OVO PW):  93.00 (-1.06%)

Kernel Holding SA (KER PW):  68.05 (-1.23%)

Agroton Public Limited (AGT PW):  10.19 (-0.59%)

Astarta Holding NV (AST PW):  64.70 (+4.10%)

Industrial Milk Co (IMC PW):  16.20 (-0.92%)

KSG Agro SA (KSG PW):  12.10 (-0.41%)

Milkiland (MLK PW):  15.20 (-1.94%)

KDM Shipping Plc (KDM PW):  26.99 (+0.04%)

Coal Energy SA (CLE PW): 11.88 (+1.11%)

Sadovaya Group SA (SGR PW):  1.89 (-4.55%)

Westa Intl Scientific Group (WES PW):  0.65 (-1.52%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, remaining flat for the third day at 0.14 EURO (unch%).  ERUs are trading around 50% of this price.  Nothing is trading on the exchange except for a small trades posted by ambitious speculators trying to convince the market that there is something happening.  Only a political decision to address massive oversupply can turn things around.  Too many ERUs and CERs have been issued already for there to be any meaningful supply/demand intersection, and more are printed every month, the market is swamped.

Warsaw Market & Carbon Watch - Wednesday 20 February

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.  The Warsaw Stock Exchange snapped a two-day winning streak and closed down (-0.50%), against green screens across the main European markets (FTSE +0.96%, STOXX +1.75%, CAC +1.88%, DAX +1.62%, IBEX +1.44%) and positive U.S. markets (DOW +0.39%, S&P +0.73%, NASDAQ +0.68%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index tracked the main Warsaw equities index, closing down (-0.50%) with gains in Sadovaya, Milkiland, Kernel and Agroton unable to carry the day.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya (639,829 shares), Milkiland (76,339 shares), Kernel (59,862 shares) and Westa (47,332 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): 46490.89 (-0.04%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  688.79 (-0.50%) 

Ovostar Union NV (OVO PW):  94.00 (-2.08%)

Kernel Holding SA (KER PW):  68.90 (+0.58%)

Agroton Public Limited (AGT PW):  10.25 (+0.10%)

Astarta Holding NV (AST PW):  62.15 (-1.35%)

Industrial Milk Co (IMC PW):  16.35 (unch%)

KSG Agro SA (KSG PW):  12.15 (-2.80%)

Milkiland (MLK PW):  15.50 (+0.98%)

KDM Shipping Plc (KDM PW):  26.98 (-0.70%)

Coal Energy SA (CLE PW): 11.75 (-4.16%)

Sadovaya Group SA (SGR PW):  1.98 (+8.79%)

Westa Intl Scientific Group (WES PW):  0.66 (-1.49%)

Carbon Trading

The ICE daily CER continued to trade as a political option with notional pricing, remaining flat at 0.14 EURO (unch%).  ERUs are trading around 50% of this price.  Kyoto units are trading in low volumes, virtually no volumes in CERs or ERUs are trading after a weak EU back-loading vote occurred yesterday that simply kicked the can down the road.  There is no new demand source for carbon credits that can improve the emissions market at this point, only a political decision to address massive oversupply can turn things around.  Too many ERUs and CERs have been issued already for there to be any meaningful supply/demand intersection, and more are printed every month, the market is swamped.

Warsaw Market & Carbon Watch - Tuesday 19 February

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.  The Warsaw Stock Exchange continued its winning streak and closed up (+0.30%), against mixed screens across the main European markets (FTSE -0.16%, STOXX +0.05%, CAC +0.18%, DAX +0.46%, IBEX -0.51%).  The U.S. markets were closed for President's Day.  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index underperformed the main Warsaw equities index, closing down (-1.06%) with gains in Agroton, Kernel, KDM Shipping and Milkiland unable to carry the day.  From a market depth standpoint, the highest trading volumes occurred in Milkiland (223,428 shares), Kernel (118,303 shares), IMC (50,910 shares) and Westa (47,228 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): 46508.27 (+0.30%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  692.23 (-1.06%) 

Ovostar Union NV (OVO PW):  96.00 (-0.62%)

Kernel Holding SA (KER PW):  68.50 (+0.74%)

Agroton Public Limited (AGT PW):  10.04 (+1.99%)

Astarta Holding NV (AST PW):  63.00 (-4.55%)

Industrial Milk Co (IMC PW):  16.35 (-0.24%)

KSG Agro SA (KSG PW):  12.50 (unch%)

Milkiland (MLK PW):  15.25 (+0.66%)

KDM Shipping Plc (KDM PW):  27.17 (+0.70%)

Coal Energy SA (CLE PW): 12.26 (-1.84%)

Sadovaya Group SA (SGR PW):  1.82 (unch%)

Westa Intl Scientific Group (WES PW):  0.67 (-1.47%)

Carbon Trading

The ICE daily CER continued to trade in range, gaining another cent to reach 0.14 EURO (+7.69%).  ERUs are trading around 50% of this price.  Kyoto units are trading in low volumes while everyone watches today's EUA back-loading proposal vote in the EU.  This vote would be the first of several required votes to execute such a set aside this year, and not the hardest one.  In the meantime, the market continues to witness continuous new issuances of ERUs and CERs on top of existing oversupply.

Warsaw Market & Carbon Watch - Monday 18 February

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 (+0.34%), against mixed bearish screens across the main European markets (FTSE +0.01%, STOXX -0.76%, CAC -0.25%, DAX -0.49%, IBEX -1.18%) and U.S. markets (DOW +0.06%, S&P -0.10%, NASDAQ -0.21%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index tracked the main Warsaw equities index, closing up (+0.30%) driven by gains in Sadovaya, IMC, Milkiland, Kernel, Agroton and Ovostar.  From a market depth standpoint, the highest trading volumes occurred in Kernel (174,357 shares) and Westa (90,235 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): 46370.13 (+0.34%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  699.68 (+0.30%) 

Ovostar Union NV (OVO PW):  96.60 (+0.10%)

Kernel Holding SA (KER PW):  68.00 (+1.57%)

Agroton Public Limited (AGT PW):  10.04 (+0.40%)

Astarta Holding NV (AST PW):  66.00 (-1.64%)

Industrial Milk Co (IMC PW):  16.39 (+2.44%)

KSG Agro SA (KSG PW):  12.50 (-0.08%)

Milkiland (MLK PW):  15.25 (+1.60%)

KDM Shipping Plc (KDM PW):  26.98 (unch%)

Coal Energy SA (CLE PW): 12.49 (-1.96%)

Sadovaya Group SA (SGR PW):  1.82 (+3.41%)

Westa Intl Scientific Group (WES PW):  0.68 (unch%)

Carbon Trading

The ICE daily CER continued to trade in range, recovering one cent to 0.13 EURO (+8.33%).  ERUs are trading around 50% of this price.  Kyoto units are trading in low volumes on exchanges as market participants await Tuesday's expected set aside vote for EUAs in the EU ETS.  This vote would be the first of several required votes to execute such a set aside this year, and not the hardest one.  In the meantime, the market will try to absorb continuous new issuances of ERUs and CERs on top of existing oversupply.

Warsaw Market & Carbon Watch - Friday 15 February

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 slightly down (-0.42%), in line with red screens across the main European markets (FTSE -0.50%, STOXX -0.81%, CAC -0.78%, DAX -1.05%, IBEX -0.71%) and flattish U.S. markets (DOW -0.07%, S&P +0.07%, NASDAQ +0.06%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index tracked the main Warsaw equities index, closing down (-0.34%) with gains in Kernel and Milkiland unable to offset red and white screens among other weighted names.  From a market depth standpoint, the highest trading volumes occurred in IMC (151,617 shares) and Kernel (76,142 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): 46211.54 (-0.42%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  697.58 (-0.34%) 

Ovostar Union NV (OVO PW):  96.50 (-2.53%)

Kernel Holding SA (KER PW):  66.95 (+1.36%)

Agroton Public Limited (AGT PW):  10.00 (-2.44%)

Astarta Holding NV (AST PW):  67.10 (-1.32%)

Industrial Milk Co (IMC PW):  16.00 (unch%)

KSG Agro SA (KSG PW):  12.51 (-2.65%)

Milkiland (MLK PW):  15.01 (+0.07%)

KDM Shipping Plc (KDM PW):  26.98 (unch%)

Coal Energy SA (CLE PW): 12.74 (-1.92%)

Sadovaya Group SA (SGR PW):  1.76 (unch%)

Westa Intl Scientific Group (WES PW):  0.68 (-1.45%)

Carbon Trading

The ICE daily CER continued to trade in range, falling one cent to 0.12 EURO (-7.69%).  ERUs are trading around 50% of this price.  Kyoto units are trading in low volumes on exchanges as market participants keenly await a (potentially disappointing) set aside vote for EUAs in the EU ETS scheduled for next week.  In the meantime, countries continue to issue ERUs and the CDM EB continues to issue CERs in the face of limited demand.

Warsaw Market & Carbon Watch - Thursday 14 February

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 slightly up (+0.02%), in line with green screens across the main European markets (FTSE +0.33%, STOXX +0.30%, CAC +0.32%, DAX +0.67%, IBEX +0.87%) and mixed U.S. markets (DOW -0.26%, S&P +0.06%, NASDAQ +0.33%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index slightly outperformed the main Warsaw equities index, closing up (+0.61%) with gains in Coal Energy, Ovostar, Astarta and Kernel driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Kernel (92,042 shares), Sadovaya (37,218 shares) and Westa (26,611 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): 46406.74 (+0.02%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  699.94 (+0.61%) 

Ovostar Union NV (OVO PW):  99.00 (+2.06%)

Kernel Holding SA (KER PW):  66.05 (+0.08%)

Agroton Public Limited (AGT PW):  10.25 (-3.30%)

Astarta Holding NV (AST PW):  68.00 (+1.49%)

Industrial Milk Co (IMC PW):  16.00 (-1.23%)

KSG Agro SA (KSG PW):  12.85 (unch%)

Milkiland (MLK PW):  15.00 (-0.07%)

KDM Shipping Plc (KDM PW):  26.98 (-0.77%)

Coal Energy SA (CLE PW): 12.99 (+3.51%)

Sadovaya Group SA (SGR PW):  1.76 (unch%)

Westa Intl Scientific Group (WES PW):  0.69 (unch%)

Carbon Trading

The ICE daily CER continued to trade flat and remained at 0.13 EURO (unch%).  ERUs are trading around 50% of this price with virtually no volume in carbon credits trading on the exchange.  Although a set aside vote for EUAs in the EU ETS is scheduled for next week, the track record of previous Member State votes implies no action will result at least not for the foreseeable future.

Warsaw Market & Carbon Watch - Wednesday 13 February

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 in the red (-0.83%), compared to green screens across the main European markets (FTSE +0.98%, STOXX +1.00%, CAC +0.99%, DAX +0.35%, IBEX +1.93%) and mixed U.S. markets (DOW +0.34%, S&P +0.16%, NASDAQ -0.17%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index outperformed the main Warsaw equities index, closing up (+0.45%) with gains in Astarta, KSG Agro, Westa and Agroton driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya (101,519 shares), Kernel (97,437 shares) and Westa (70,375 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): 46399.26 (-0.83%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  695.72 (+0.45%) 

Ovostar Union NV (OVO PW):  97.00 (-1.92%)

Kernel Holding SA (KER PW):  66.00 (unch%)

Agroton Public Limited (AGT PW):  10.60 (+0.38%)

Astarta Holding NV (AST PW):  67.00 (+3.80%)

Industrial Milk Co (IMC PW):  16.20 (-0.49%)

KSG Agro SA (KSG PW):  12.85 (+1.58%)

Milkiland (MLK PW):  15.01 (-3.16%)

KDM Shipping Plc (KDM PW):  27.19 (unch%)

Coal Energy SA (CLE PW): 12.55 (-4.13%)

Sadovaya Group SA (SGR PW):  1.76 (-2.22%)

Westa Intl Scientific Group (WES PW):  0.69 (+1.47%)

Carbon Trading

The ICE daily CER continued to trade flat after opening one Eurocent higher before returning to 0.13 EURO (unch%).  ERUs are trading around 50% of this price with virtually no volume in carbon credits trading on the exchange.  EU Carbon is down 27.78% for the year to date.

Warsaw Market & Carbon Watch - Tuesday 12 February

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 positively (+0.10%), compared to mixed screens across the main European markets (FTSE +0.21%, STOXX -0.29%, CAC +0.03%, DAX -0.24%, IBEX -1.18%) and red U.S. markets (DOW -0.16%, S&P -0.06%, NASDAQ -0.06%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index slightly outperformed the main Warsaw equities index, closing up (+0.64%) with gains in Coal Energy, Astarta, Kernel and IMC carrying the day.  From a market depth standpoint, the highest trading volumes occurred in IMC (154,599 shares), Kernel (110,617 shares) and Sadovaya (34,161 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): 46786.738 (+0.10%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  692.59 (+0.64%) 

Ovostar Union NV (OVO PW):  98.90 (-1.10%)

Kernel Holding SA (KER PW):  66.00 (+0.76%)

Agroton Public Limited (AGT PW):  10.56 (-4.00%)

Astarta Holding NV (AST PW):  64.55 (+1.65%)

Industrial Milk Co (IMC PW):  16.28 (+0.49%)

KSG Agro SA (KSG PW):  12.65 (-4.53%)

Milkiland (MLK PW):  15.50 (-1.15%)

KDM Shipping Plc (KDM PW):  27.19 (unch%)

Coal Energy SA (CLE PW): 13.09 (+4.72%)

Sadovaya Group SA (SGR PW):  1.80 (-1.10%)

Westa Intl Scientific Group (WES PW):  0.68 (unch%)

Carbon Trading

The ICE daily CER continued to trade in range, closing flat after opening higher initially and returning to 0.13 EURO (unch%).  ERUs are trading around 50% of this price with virtually no volume in carbon credits trading on the exchange.  The EU ETS market remains the "sick man of Europe" as eyes and ears carefully follow today's State of the Union address by President Barack Obama for possible clues to a U.S. climate action plan between now and 2016.

Warsaw Market & Carbon Watch - Monday 11 February

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 (+0.89%), in line with green screens across the main European markets (FTSE +0.57%, STOXX +1.25%, CAC +1.35%, DAX +0.81%, IBEX +2.00%) and U.S. markets (DOW +0.35%, S&P +0.57%, NASDAQ +0.91%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index tracked the main Warsaw equities index, closing higher (+0.37%) with gains in KSG Agro, IMC, KDM Shipping, Astarta, Coal Energy SA and Agroton driving the movement.  From a market depth standpoint, the highest trading volumes occurred in Westa (35,795 shares), Kernel (33,686 shares), Sadovaya (21,245 shares) and IMC (19,978 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): 46741.539 (+0.89%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  688.18 (+0.37%) 

Ovostar Union NV (OVO PW):  100.00 (unch%)

Kernel Holding SA (KER PW):  65.50 (-0.15%)

Agroton Public Limited (AGT PW):  11.00 (+0.27%)

Astarta Holding NV (AST PW):  63.50 (+0.79%)

Industrial Milk Co (IMC PW):  16.20 (+1.57%)

KSG Agro SA (KSG PW):  13.25 (+1.92%)

Milkiland (MLK PW):  15.68 (unch%)

KDM Shipping Plc (KDM PW):  27.19 (+1.46%)

Coal Energy SA (CLE PW): 12.50 (+0.40%)

Sadovaya Group SA (SGR PW):  1.82 (-1.09%)

Westa Intl Scientific Group (WES PW):  0.68 (-1.45%)

Carbon Trading

The ICE daily CER continued to trade in range and rose 1 Eurocent to 0.13 EURO (+8.33%) after falling 1 Eurocent the previous trading day and repeating the pattern of the previous 2 trading days.  ERUs are trading around 50% of this price with virtually no volume in carbon credits trading on the exchange.  EU carbon is oversupplied while game changing developments in other global markets are distant discussion topics.

Warsaw Market & Carbon Watch - Thursday 7 February

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 down (-1.13%), in line with mostly red screens across the main European markets (FTSE +0.20%, STOXX -1.28%, CAC -1.40%, DAX -1.09%, IBEX -0.46%) and U.S. markets (DOW +0.05%, S&P +0.05%, NASDAQ -0.10%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index tracked the main Warsaw equities index, closing in negative territory (-0.89%) with gains in Astarta unable to compensate for an otherwise sluggish day.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya (110,405 shares), Kernel (99,025 shares) and Milkiland (60,591 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): 46149.141 (-1.13%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  684.73 (-0.89%) 

Ovostar Union NV (OVO PW):  97.85 (-2.15%)

Kernel Holding SA (KER PW):  64.70 (-1.97%)

Agroton Public Limited (AGT PW):  11.10 (-0.45%)

Astarta Holding NV (AST PW):  64.20 (+1.10%)

Industrial Milk Co (IMC PW):  15.75 (-0.38%)

KSG Agro SA (KSG PW):  13.09 (-0.38%)

Milkiland (MLK PW):  15.25 (-2.24%)

KDM Shipping Plc (KDM PW):  25.50 (-4.85%)

Coal Energy SA (CLE PW): 12.99 (-0.69%)

Sadovaya Group SA (SGR PW):  1.81 (-2.16%)

Westa Intl Scientific Group (WES PW):  0.69 (unch%)

Carbon Trading

The ICE daily CER continued to trade in range and grew 1 Eurocent to 0.13 EURO (+8.33%).  ERUs are trading around 50% of this price with virtually no volume in carbon credits trading on the exchange.  EU carbon fell 3.6% with clear oversupply weighing down a recent rally.  All eyes appear to be on what happens between now and 2020 particularly in North America and Asia. In the meantime the EU carbon market soldiers on but barely.

Warsaw Market & Carbon Watch - Wednesday 6 February

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 (+0.25%), in line with gains across the main European markets (FTSE +0.58%, STOXX +0.99%, CAC +0.95%, DAX +0.35%, IBEX +2.20%) and U.S. markets (DOW +0.71%, S&P +1.04%, NASDAQ +1.29%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index tracked the main Warsaw equities index, closing in positive territory (+0.08%) with gains in KSG Agro, Ovostar, IMC and Coal Energy.  From a market depth standpoint, the highest trading volumes occurred in Sadovaya (94,605 shares) and Kernel (54,377 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): 46674.781 (+0.25%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  690.91 (+0.08%) 

Ovostar Union NV (OVO PW):  100.00 (+1.01%)

Kernel Holding SA (KER PW):  66.00 (-0.15%)

Agroton Public Limited (AGT PW):  11.15 (-0.45%)

Astarta Holding NV (AST PW):  63.50 (unch%)

Industrial Milk Co (IMC PW):  15.81 (+0.70%)

KSG Agro SA (KSG PW):  13.14 (+1.08%)

Milkiland (MLK PW):  15.60 (unch%)

KDM Shipping Plc (KDM PW):  26.80 (unch%)

Coal Energy SA (CLE PW): 13.08 (+0.23%)

Sadovaya Group SA (SGR PW):  1.85 (-2.12%)

Westa Intl Scientific Group (WES PW):  0.69 (unch%)

Carbon Trading

The ICE daily CER fell 1 Eurocent to 0.12 EURO (-7.69%).  ERUs are trading around 50% of this price with virtually no volume in carbon credits trading on the exchange.  All eyes appear to be on what happens between now and 2020 particularly in North America and Asia. The EU carbon market proceeds like a brave but tired and wounded soldier, waiting for reinforcements to arrive.

Warsaw Market & Carbon Watch - Tuesday 5 February

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 down (-0.83%), in line with red screens across the main European markets (FTSE -1.58%, STOXX -3.13%, CAC -3.01%, DAX -2.49%, IBEX -3.77%) and U.S. markets (DOW -0.93%, S&P -1.15%, NASDAQ -1.51%).  Looking at Ukrainian equities in particular across the Warsaw Stock Exchange, their index tracked the main Warsaw equities index, closing down (-2.19%) with gains in Agroton, KDM Shipping, Westa, Milkiland and IMC unable to carry the day.  From a market depth standpoint, the highest trading volumes occurred in IMC (90,352 shares), Sadovaya (57,589 shares) and Kernel (55,764 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): 46556.551 (-0.83%)

WSE WIG-Ukraine Index (total return index for Ukrainian listed companies):  690.38 (-2.19%) 

Ovostar Union NV (OVO PW):  99.00 (-1.00%)

Kernel Holding SA (KER PW):  66.10 (-3.36%)

Agroton Public Limited (AGT PW):  11.20 (+5.66%)

Astarta Holding NV (AST PW):  63.50 (-2.31%)

Industrial Milk Co (IMC PW):  15.70 (+0.32%)

KSG Agro SA (KSG PW):  13.00 (-2.55%)

Milkiland (MLK PW):  15.60 (+0.65%)

KDM Shipping Plc (KDM PW):  26.80 (+5.10%)

Coal Energy SA (CLE PW): 13.05 (-6.38%)

Sadovaya Group SA (SGR PW):  1.89 (-1.56%)

Westa Intl Scientific Group (WES PW):  0.69 (+2.99%)

Carbon Trading

The ICE daily CER improved 2 Eurocents to 0.13 EURO (-27.78% YTD).  ERUs are trading around 50% of this price with virtually no volume in carbon credits trading on the exchange.  The United Nations recently stated that it lacked funds to undertake the first round of climate change treaty negotiations in 2015, which sort of sums of the market as a whole currently.  On the other hand, departing EPA chief Linda Jackson stated that President Barack Obama was serious about tackling the problem of greenhouse gas emissions in the USA.  Under current carbon market conditions anything optimistic coming from the USA is welcome and newsworthy.