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.