News
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July 26, 2010
Market Comment
Ukrainian equity markets faded ahead of the weekend. The UX exchange opened strong Friday (July 23), but fell 0.48% by the end of the session. Activity was moderate with a total turnover of nearly UAH 69 mln. Most stocks in the index basket closed lower - Ukrnafta (UNAF +0.93) was the only liquid stock to post gains. Strong financials released last week for Raiffeisen Bank Aval (BAVL -1.97%) didn’t help, the stock turned in one of the worst performances on the day.
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July 26, 2010
GenCos: Ukrainian GenCos post upbeat financials
Event: Ukrainian GenCos posted upbeat financial results for 2Q2010. Centerenergo (CEEN) and Dniproenergo (DNEN) fared better than their peers, posting net profits of UAH 162 mln and UAH 204 mln respectively.
Impact: The results are positive for all Ukrainian GenCos and CEEN and DNEN in particular.
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July 26, 2010
Metals and Mining: Assets of ALMK and DMKD distrained
Event: According to Ukrainian News agency, the executive service of the Ministry of Justice of Ukraine has distrained assets of three steel plants belonging to the Industrial Union of Donbas: ALMK, DMKD and Kramatorsk steel plant (the latter is not listed on the stock exchange). The seizure was made in order to service debts totaling approximately UAH 1.7 bln for delivered raw materials from Metinvest. ALMK was hit the hardest, surrendering UAH 1.4 bln UAH in assets.
