News
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September 09, 2010
Politics: Party of Regions to preserve control of Kyiv
Event: President Viktor Yanukovych signed into law yesterday (Sep. 8) controversial amendments that will allow the territorial community of Kyiv and the Kyiv City Council to dissolve the city’s district councils. The amendments also grant the President the right to appoint the head of the city administration and heads of district administrations if district councils are eliminated.
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September 09, 2010
Real Estate: TMM increases property sales in August
Event: TMM, Ukraine’s leading real-estate development and construction company, reported UAH 37.6 mln in sales during August 2010, the company announced in a sales update released September 8, 2010. According to company data, revenue results in August constitute a 3x Y-o-Y increase and an almost 2x increase compared to average monthly sales in 1H10. Pre-sales in the projects under construction made up 42% of the total volume in monetary terms and 54% in square meter terms.
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September 08, 2010
Market Comment
Negative sentiment prevailed on Ukrainian equity markets Tuesday (Sep. 7). The UX exchange dipped 0.93% on a low total trading volume of UAH 55 mln. Led by steel producers (ALMK -1.63%, AZST -2.09%, ENMZ -1.35%) and banks (BAVL -1.53%, USCB -1.47%), most blue chips took on losses. Yasynivka Coke (YASK) was among the biggest laggards, dropping 2.40%. Profit taking was on the menu for other stocks including Centerenergo (CEEN -1.42%), Motor Sich (MSICH -0.93%) and Ukrnafta (UNAF -1.19%).
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September 08, 2010
Politics: Ukraine’s Parliament gets back to work
The sixth convocation of Ukraine’s Parliament (Verkhovna Rada) opened its seventh session yesterday (Sep. 7) amid protest from the opposition. Several thousand supporters of parties led by Yulia Tymoshenko Bloc took to the streets outside the Parliament building to protest a string of actions by President Viktor Yanukovych and the Party of Regions.
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September 08, 2010
Fixed Income: Kernel to issue Eurobonds
Event: Kernel, a leading Ukrainian agricultural company, may issue Eurobonds by the end of September, Interfax reported yesterday (Sep.7). The book-runners for the placement will be JP Morgan and ING Bank. Terms of the offering, however, were not disclosed.
Impact: The news is neutral for Ukraine’s fixed income market.
