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Monday, February 7, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets ended the week in positive territory Friday (Feb. 4). Investor sentiment was supported by the general uplift on international markets, with better than expected earnings reports, expansion of manufacturing in China and positive employment data from the US. The UX exchange opened up and charted a sideways course throughout the session to close with a gain of 0.79%. Total trading volume came in higher than average at UAH 229 mln. The focus was on mining names (AVDK +4.51%, YASK +3.05%), which grew along with the world's largest mining companies that are in line to compensate for the hurricane hit mines in Australia. Banks took a significant step upwards (BAVL +1.77% USCB +1.58%). Metallurgy names also recorded solid gains: ALMK +1.47%, AZST +1.59%, ENMZ +1.32%. Another notable advance was made by Ukrtelecom (UTLM +1.1%), while Motor Sich (MSICH +0.04%) could not break any notable ground. Centerenergo (CEEN -0.32%) and Ukrnafta (UNAF -0.15%) were the only liquid stocks to close in the red.

In London, Cadogan Petroleum (CAD LN -2.29%) continued its correction, while JKX Oil & Gas (JKX LN +0.75%) eked out a gain. Ferrexpo (FXPO LN +0.62%) advanced slightly and MHP (MHPC LI -0.21%) closed in shallow negative territory. In Warsaw, agricultural companies demonstrated positive dynamics, with Astarta (AST PW +2.32%) ending the week on the highest note. Kernel (KER PW +0.85%) and Agroton (AGT PW +0.2%) inched up humbly.


Metals and Mining: Ukrainian coke producers raise prices by 10% M-o-M in February
Chemicals: Stirol plans to launch dormant ammonia workshop

Friday, February 4, 2011

Daily Market Brief

Market Comment

Positive sentiment prevailed on Ukrainian equity markets Thursday (Feb. 3). The UX exchange rose 0.65%, with total equity trading volume coming in at UAH 250 mln. The hefty price hike for Centerenergo (CEEN +4.89%) led the session’s gains. Ukrtelecom (UTLM +1.74%) and Ukrsotsbank (USCB +1.61%) also managed to make significant advances. Raiffeisen Bank Aval (BAVL -0.23%) could not follow its peer’s lead. Prices also charted a downward trend for steel makers, with Azovstal (AZST -1.26%) and Enakievo Steel (ENMZ -1.27%) leading losses and Alchevsk (ALMK -0.08%) shedding just a pinch. Coke producers closed with mixed results: Avdiivka Coke (AVDK +0.75%) took a step up, while Yasynivka Coke (YASK -1.35%) slid. Motor Sich (MSICH -1.02%) came back down to earth, and Ukrnafta (UNAF -0.15%) closed just below the flat line.

In London, investors fixed profits on Cadogan Petroleum (CAD LN -6.43%), and JKX Oil & Gas (JKX LN -0.8%) inched down. Both Ferrexpo (FXPO LN -1.91%) and MHP (MHPC LI -0.56%) reversed to losses. In Warsaw, Astarta (AST PW +1.5%) and Kernel (KER PW +1.29%) made notable ascents, while Agroton (AGT PW -0.24%) closed in negative territory.


Oil & Gas: JKX Oil & Gas reports Russian project update

Thursday, February 3, 2011

Daily Market Brief

Market Comment

Ukrainian equity markets experienced an uplift Wednesday (Feb. 2) on the back of positive domestic corporate developments. The UX exchange posted an impressive 2.53% gain on an unprecedented trading volume of UAH 350 mln. It was Motor Sich’s (MSICH) day; the stock shot up 10.62% after its FY10 results came out much better than expected. Among other top gainers, Ukrtelecom (UTLM) starred with a 3.12% rise and Ukrnafta (UNAF) climbed 1.94%. The banking sector (BAVL +0.8%, USCB +1.5%) and Centerenergo (CEEN +1.27%) posted moderately positive results. Metals and mining companies closed mixed. Yasynivka Coke (YASK +1.17%), Azovstal (AZST +1.09%), Enakievo (ENMZ +0.84%), Avdiivka Coke (AVDK +0.56%) all managed to gain, while Alchevsk Steel (ALMK -0.53%) closed in the red. Another blue chip that moved against the market was Zakhidenergo (ZAEN -0.16%).

In London, Cadogan Petroleum (CAD LN +12.9%) kept flying higher, while JKX Oil & Gas (JKX LN +1.02%) solidified its gains. Both Ferrexpo (FXPO LN +1.34%) and MHP (MHPC LI +0.77%) posted moderate advances. In Warsaw, Astarta (AST PW -0.32%) and Agroton (AGT PW -0.27%) closed in negative territory, but Kernel (KER PW +0.06%) just crossed over the flat line.


Fixed Income: Fitch assigns B rating to Ukreximbank’ hryvnia-linked notes
GenCos: Ukraine eyes privatization of GenCos in 2Q11
Metallurgy: Ukrainian steelmakers stand firm in January
Metals and Mining: Ferrexpo decreases pellet output in January by 3% M-o-M
Metals and Mining: Yasynivka Coke to maintain daily production in February