Daily Market Brief

Market Comment

Ukrainian equity markets edged lower Friday (Nov. 19) after China increased the volume of required bank reserves by 0.5%. The UX exchange lost 0.77% as trading volume reached an impressive UAH 230 mln. Ukrsotsbank (USCB -3.18%), Zakhidenergo (ZAEN -2.22%), Motor Sich (MSICH -1.09%) and Ukrnafta (UANF -1.25%) contributed most to the index’s decline. Coke producers (AVDK -0.98%, YASK -0.56%), Raiffeisen Bank Aval (BAVL -0.67%) and Ukrtelecom (UTLM -0.73%) posted meager losses, while Steel makers (ALMK +1.20%, AZST +0.52%, ENMZ +1.02%) and Centerenergo (CEEN +0.26%) bucked the general trend.

Among Ukrainian stocks listed on the London Stock Exchange, Regal Petroleum (RPT LN -5.17%) and Ferrexpo (FXPO LN -2.12%) were the most notable losers, while other names posted gains: CAD LN +3.95%, JKX LN +0.28%, MHPC LI +0.59%. In Warsaw, Astarta (AST PW -2.6%) slid, Kernel (KER PW -0.08%) lost a fraction and Agroton (AGT PW) closed flat.


Politics: Ukrainian parliamentary election pushed until 2012
Macro: Ukraine’s government forecasts 4.5% Y-o-Y GDP growth in 2011

Daily Market Brief

Market Comment

Investors were in a bullish mood on Ukrainian equity markets Thursday (Nov.18) as global sentiment was lifted by hopes of an Irish bailout. The UX exchange grew 2.87%, boosted by gains in metals and mining shares. Trading volume reached an impressive UAH 195 mln. Alchevsk Steel (ALMK) hit a new high, skyrocketing 8.12%. Other names in the sector showed milder growth: AVDK +1.79%, AZST +4.27%, ENMZ +1.51%, YASK +2.04%. Motor Sich (MSICH +3.23%), Ukrnafta (UNAF +4.27%) and Ukrtelecom (UTLM +3.27%) also rose sharply. Banks (BAVL +2.22%, USCB +0.83%) and GenCos (CEEN +0.85%, ZAEN +2.71%) followed the general upward trend.

Ukrainian stocks listed on international markets showed mixed dynamics. Regal Petroleum (RPT LN) was the only name to close in the red – the stock price fell on concerns over the company’s licensing issues. JKX Oil & Gas (JKX LN +1.38%), Cadogan Petroleum (CAD LN +2.7%), MHP (MHPC LI +2.42%) and Ferrexpo (FXPO LN +0.88%) continued to gain ground. On the Warsaw Stock Exchange, Agroton (AGT PW) soared 3.03%, while Kernel (KER PW -2.83%) extended losses.


Macro: Ukraine’s Parliament approves new Tax Code
Fixed Income: Mriya cancels Eurobond placement

Daily Market Brief

Market Comment

Volatile trading was observed on Ukrainian equity markets Wednesday (Nov. 17). The UX exchange opened lower, but recovered early losses in a second half rally to close 1.25% higher. Trading volume was above average at UAH 140 mln. Alchevsk Steel (ALMK +3.36%), Motor Sich (MSICH +3.33%) and Ukrnafta (UNAF +3.95%) contributed most to the index’s growth. Coke producers (AVDK +0.33%, YASK +0.75%) reversed to gains, while banks (BAVL -0.58%, USCB -1.02%) and steel makers (AZST -0.19%, ENMZ -0.52%) extended losses. GenCos showed mixed dynamics: Centerenergo (CEEN) inched up 0.12%; Zakhidenergo (ZAEN) slid 1.87%.

Among Ukrainian stocks listed on international markets, oil and gas names closed flat (JKX LN +0.17%, CAD LN unch, RPT LN unch). Other London-listed stocks posted solid gains: FXPO LN +3.49%, MHPC LI +1.23%. In Warsaw, agriculture and food processing stocks sank with Kernel (KER PW -4.92%) suffering the most significant blow, and Agroton (AGT PW -2.62%) and Astarta (AST PW -1.6%) also taking a dive.


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