News
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March 03, 2010
Market Comment
The UX Index picked up on the rise Tuesday (Mar. 2), continuing the positive trend established the day before. However, by midday the index had corrected and it was a long but steady climb back to black. As a result, the index managed to gain 0.62%.
Motor Sich (MSICH UK) had one of its best sessions, growing sharply by 4.18% to UAH 2,041 per share. North Ore Mining and Processing Plant (SGOK UK) rallied again, reaching a new high by adding 6.41%. Banks fell the most among blue chips (BAVL UK, -0.70%; USCB
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March 03, 2010
Politics: Lytvyn to Tymoshenko: You’re on your own
Event: Ukraine’s majority parliamentary coalition led by Prime Minister Yulia Tymoshenko was shattered yesterday (Mar. 2) as members of Lytvyn Bloc (LB) and Our Ukraine—People’s Self-Defense (OUPSD) declared their intention to break away from the ruling coalition. Speaker of Verkhovna Rada (Parliament) Volodymyr Lytvyn was quoted as saying: “I declare that the coalition ceases to exist.”
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March 03, 2010
Fixed Income: Finance and Credit Bank makes syndicated loan restructuring offers
Event: Finance and Credit Bank has offered restructuring terms on its syndicated loans and trade finance loans, Interfax reported Tuesday (Mar. 2). In total, the loans amount to more than $100 mln. The meeting with creditors was held on February 19, and on March 1 the bank provided loan restructuring terms which implied an increase in interest rates, no haircuts and an amortization repayment schedule. The bank is looking to receive a response from the creditors committee within two weeks.
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March 03, 2010
Machinery: Dniprovahonmash reports UAH 137 mln net loss in 2009
Event: Dniprovahonmash, one of Ukraine’s top five largest producers of freight railcars, reported a loss of UAH 136.9 mln in 2009, a company press release disclosed Tuesday (Mar. 2).
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