http://www.phoenix-capital.com.uaPhoenix Capital NewsCopyright 2009 Phoenix Capitalenelias404@gmail.comelias404@gmail.comEvent: The Ukrainian government has redistributed the responsibilities of former Vice Prime Minister Volodymyr Semynozhenko, who was sacked July 2, Interfax reported.

]]>Phoenix CapitalEvent: Kharkiv economic court initiated the reorganization of Kupyanskiy Sugar Plant, which is owned by Ukrros, Interfax reported July 26. According to the news agency, the court decision was made on July 14. Impact: The news is neutral for Ukrros. Rationale: We regard this news as neutral for the company as the plant didn’t operate last year due to a lack of sugar beet in the region. Besides, Ukrros had considered disposing of the plant back in 2009.

]]>Phoenix CapitalThe Ukrainian equity market opened the week with growth. The UX exchange closed slightly higher yesterday (July 26), adding 0.67% on encouraging stats out of the US (new home sales proved better than expected). Total volume was moderate at UAH 53.6 mln. Stocks finished a volatile day with modest gains. News that Alchevsk Steel’s (ALMK -3.67%) assets had been distrained pushed the stock lower. Ukrnafta (UNAF) was the stock of the day, climbing 1.28%.

]]>Phoenix CapitalEvent: Ukraine’s balance of payments (BoP) surplus reached $2.8 bln in June, the highest level since 2005, Interfax reported yesterday (26 July) with the reference to the National Bank of Ukraine (NBU). The current account added $195 mln, and direct foreign investments rose to $755 mln. The current account surplus for 1H2010 totaled $472 mln compared to a deficit of $835 mln in 1H2009.

]]>Phoenix CapitalEvent: Six private coal companies won the tender to supply Donbasenergo with coal in 2H2010. The total cost of the 120 kt will be UAH 78.8 mln ($10 mln), including 20% VAT.

]]>Phoenix CapitalUkrainian 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.

]]>Phoenix CapitalEvent: 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.

]]>Phoenix CapitalEvent: 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.

]]>Phoenix CapitalPositive news from European markets fueled gains for Ukrainian stocks yesterday (July 22). Encouraging developments locally also bolstered the rise, as S&P added Ukraine to the CreditWatch list for a possible upgrade in the country’s long-term credit rating. The UX exchange edged up 1.93% on a total volume of UAH 63 mln. The market closed broadly higher led by banks (BAVL +3.94%, USCB +2.26%) and steel producers (AZST +3.83%, ALMK +1.71%, ENMZ +1.78%).

]]>Phoenix CapitalEvent: S&P placed Ukraine’s long-term B rating into the CreditWatch list for a possible upgrade to B+ yesterday (July 22). Fiscal consolidation and the implementation of IMF requirements along with ongoing economic recovery were stated as the main reasons for the sovereign rating revision.

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