Daily Market Brief

Market Comment

Ukrainian equity markets experienced a solid uplift on Friday (Dec. 24). The UX exchange climbed an impressive 2.15% on a high total trading volume of UAH 228 mln. Metals and mining stocks led the rally, with Alchevsk Steel (ALMK) and Enakievo Steel (ENMZ) soaring 8.77% and 5.62% respectively. Yasynivka Coke (YASK +3.7%), Azovstal (AZST +2%) and Avdiivka Coke (AVDK 0.8%) followed the upward shift. Solid advances were also made by Centerenergo (CEEN +3.01%), Ukrtelecom (UTLM +2.94%) and Ukrnafta (UNAF +2.65%). Other blue chips closed with moderate gains under one percent. The only stock in the index basket to trade against the market was Zakhidenergo (ZAEN -0.43%).

Macro: Ukraine’s capital inflows fail to cover current account deficit
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Daily Market Brief

Market Comment

Ukrainian equity markets rose steadily on Thursday (Dec. 23). By the end of the session, the UX exchange had climbed an impressive 2.36%. Total trading volume came in at UAH 274 mln. Two stocks stood out on the day: Ukrnafta (UNAF) posted a monstrous 11.09% jump and Alchevsk Steel (ALMK) drove up by 8.33%. Gains of other blue chips were humble. Banks (BAVL +0.31%, USCB +0.64%) inched up, Yasynivka Coke (YASK +0,75%) made a slight advance, and Centerenergo (CEEN +0.14%) broke even. The rest of the board posted meager losses under one percent.

On international markets, both Regal Petroleum (RPT LN ) and Cadogan Petroleum (CAD LN ) closed flat, while JKX Oil& Gas (JKX LN +0.09%) showed a slight advance. Both Ferrexpo (FXPO LN -0.59%) and MHP (MHPC LI -0.87%) corrected. In Warsaw, Astarta (AST PW +2.34%) maintained an upward course, investors fixed profits on Kernel (KER PW -2.54%), and Agroton (AGT PW) closed flat.


Macro: Ukraine’s Parliament passes budget for 2011

Daily Market Brief

Market Comment

Ukrainian equity markets traded sideways for most of Friday (Dec. 10). The UX exchange closed the week with a gain of 0.48% on a moderate total trading volume of UAH 156 mln. The index was led by a rally in Motor Sich (MSICH +3.95%), a solid rise for Yasynivka Coke (YASK +1.8%) and impressive advances in Stirol (STIR +4.7%) and Stahanov Car Production Facility (SVGZ +4.99%). As for other liquid stocks, only Ukrnafta (UNAF +0.36%), Ukrsotsbank (USCB +0.4%) and Forum Bank (FORM +0.82%) managed to close in positive territory. Metals and mining names posted notable losses led by Alchevsk Steel (ALMK -3.21%) and Enakievo Steel (ENMZ -1.56%), and followed by Avdiivka Coke (AVDK -0.6%) and Azovstal (AZST -0.94%). Investors fixed profits on Ukrtelecom (UTLM -1.67%).

Among Ukrainian companies listed on international markets, Regal Petroleum (RPT LN) stole the spotlight – the stock surged 31.08% as the Board recommended shareholders accept the takeover offer by Energees Management Ltd. Cadogan Petroleum (CAD LN +1.18%) posted a modest gain and JKX Oil & Gas (JKX LN -0.19%) dipped slightly. Ferrexpo (FXPO LN) inched up 0.11%, while MHP (MHPC LI) lost 0.89%. In Warsaw, Astarta (AST PW) plummeted 4.2%, Agroton (AGT PW) shed 0.26% and Kernel (KER PW) closed flat.


Macro: Ukraine’s cabinet contracts fiscal deficit for 2011
GenCos: Ukrainian President unblocks privatization of GenCos
Metals and Mining: Enakievo Steel to commission new blast furnace in July 2011