News
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July 13, 2010
Market Comment
Ukrainian equity markets faltered on weak trading Monday (July 12). The UX stock exchange slid on a tiny total volume of UAH 42 mln. Yasynivka Cokery Plant (YASK -3.17%) recorded the most significant drop. Banking (BAVL +0.46%, USCB -0.38%) and steel (ALMK -1.90%, AZST + 0.34%, ENMZ +0.52%) stocks closed mixed, while GenCos (CEEN -0.15%, ZAEN -1.29%) posted moderate losses. Avdiivka (AVDK -0.87%), Ukrnafta (UNAF -0.83%) and Ukrtelecom (UTLM -1.01%) also dipped.
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July 13, 2010
Macro: Ukraine’s trade balance maintains deficit
Event: Ukraine’s trade balance deficit reached UAH 2.3 bln in January-May, the State Statistic Committee reported on July 12. Goods export totaled UAH 18.8 bln (+31.4% Y-o-Y), while import amounted to UAH 21 bln (+25.9% Y-o-Y). Ferrous metals accounted for 30.9% of exports and 3.2% of imports. Energy supplies totaled 32.5% of imports, while only 7.3% of exports. Foreign trade in machinery was nearly balanced: 16.4% of exports and 17.8% of imports.
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July 13, 2010
Oil & Gas: Ukraine’s natural gas production down in June
Event: Natural gas production in Ukraine declined 4.3% Y-o-Y to 1,604 mmcm (1,889 mmcfpd) in June, Ukrainian News agency reported June 12 with reference to the Ministry of Fuel and Energy. On a daily basis, JKX Oil & Gas (JKX LN) and Ukrnafta (UNAF UZ) both saw their natural gas production fall by 2.8% and 2.5% M-o-M to 43 mmcfpd and 233 mmcfpd respectively. Regal Petroleum (RPT LN) upped its natural gas production by 44% M-o-M to 12 mmcfpd (see figure below).
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July 13, 2010
Food processing: EBRD grants $10 mln loan to Astarta
Event: Astarta reported that the EBRD has granted the company a $10 mln, 7-year loan. The details of the loan are similar to two previous loans of $20 mln each, which the company received from the EBRD in 2008 and 2009. Loan proceeds will be used for energy efficiency improvements at Astarta’s sugar plants.
