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

Daily Market Brief

Market Comment

Ukrainian equity markets kept up the positive pace on Monday (Feb. 28). The UX exchange gained 2.31% on a solid equity trading volume of UAH 241 mln. Bulls flocked around Ukrnafta (UNAF) once again, bringing the stock up 4.99%. Impressive performances were put in by metals and mining names (AZST +3.64%, ALMK +2.73%, AVDK +2.43%, YASK +2.24%, ENMZ +1.66%). GenCos made significant advances, with Centerenergo (CEEN +3.74%) clearly in the lead and Zakhidenergo (ZAEN +1.1%) trailing by a length. Banking names (USCB +1.66%, BAVL +1.12%) recorded moderate growth, Motor Sich (MSICH) climbed 1.24%, and Ukrtelecom (UTLM +0.51%) slowed its winning pace.

In London, oil and gas names corrected slightly: Cadogan Petroleum (CAD LN -0.95%) and Regal Petroleum (RPT LN -0.33%) inched down, while JKX Oil & Gas (JKX LN -0.07%) dipped its toe just below the surface. Ferrexpo (FXPO LN +2.47%) made another leap, while MHP (MHPC LI +0.92%) advanced moderately. In Warsaw, Kernel (KER PW +4.61%) stole the show this time around, while Agroton (AGT PW +0.54%) and Astarta (AST PW +0.16%) closed just in the black.

Macro: Ukraine’s budget deficit at UAH 942 mln in January
Fixed Income: Forum Bank eyes Eurobond issue

Daily Market Brief

Market Comment

Ukrainian equity markets made a triumphant recovery on Friday (Feb. 25). The UX exchanged captured most of the ground lost during the previous trading session with an impressive 4.64% advance. Equity trading volume was moderate at UAH 239 mln. Ukrnafta (UNAF +7.91%) sprang back to life. Coke producers (YASK +5.81%, AVDK +4.38%) and Motor Sich (MSICH +4.6%) also demonstrated strong revivals. Banks (BAVL +4.33%, USCB +4.1%) surged, but could not undo all the damage taken on in previous sessions. Metals and mining names (AZST +3.40%, ENMZ +2.94%, ALMK +2.43%) grew moderately, compensating for the sell-off. GenCos (CEEN +2.22%, ZAEN +1.36%), on the other hand, made a half-hearted recovery. Ukrtelecom (UTLM +2.15%) continued to stride forward confidently, with a result supported by the general uplift.

In London, Regal Petroleum (RPT LN +0.66%) closed in the black, JKX Oil & Gas (JKX LN +2.6%) pushed forward strongly, but the real champion was Cadogan Petroleum (CAD LN +10.92%). Ferrexpo (FXPO LN +3.12%) made a significant jump, while the session did not end well for MHP (MHPC LI -1.28%). In Warsaw, Astarta (AST PW +5.24%) starred, while Kernel (KER PW +0.96%) and Agroton (AGT PW +0.76%) lagged with meager gains.


Macro: Current account reverses to surplus in January
Metals and Mining: Alchevsk Coke to increase daily production by 13% in March
Metals and Mining: Ferrexpo to double railcar fleet by 2013