Demand for steel and coal stocks drove the PFTS to higher ground yesterday, as the index closed up 0.65% to 950.47 on USD 9.72 mln equity volume. On the steel side, Azovstal (AZST: BUY) led the pack with USD 1.43 mln in volume on 54 trades, rising 2.34%, and was the most active on the PFTS yesterday. Enakievo Steel (ENMZ: BUY) continued to catch attention with 48 trades moving USD 0.69 mln in equity volume and pushing the price up 2.14%. In the coal sector, Chervonoarmiyska Zakhidna (SHCHZ: BUY) also crossed the million dollar volume line, trading USD 1.11 mln and rising 2.01%. Avdiyivka Coke (AVDK: BUY) jumped 7.32% on USD 0.46 mln volume and coal machinery producer Yasynuvatsky Machinery (YAMZ: BUY) saw USD 0.64 mln in volume on flat pricing. We expect steel and coal stocks to experience continued interest today as more investors return to the market and reallocate capital to these high growth sectors. As of 12:15 Kyiv time today, 67% of stocks were up and 6% were down.
Current events
15.05.2008
Ukrrichflot AGM Approves USD 1.2 mln Dividend Payout
Ukrrichflot (FLOT: N/R) shareholders, at their AGM today, voted to make a USD 1.2 mln (27.7% of 2007 net profit) dividend payout (DPS of USD 0.015, yield of 0.6%).
more
15.05.2008
Cadogan Petroleum to hold an IPO on LSE
Cadogan Petroleum, an oil & gas exploration and production company with onshore gas and condensate assets in Ukraine, today announced plans to hold an IPO on the London Stock Exchange.
more
15.05.2008
Oranta targets two Russian insurers
Oranta (SORN: N/R) said it is in talks to acquire a life and PNC insurer in Russia, Head of Oranta’s Supervisory Board Oleh Spilka said yesterday.
more
15.05.2008
Kernel subsidiary signs USD 15 mln pact to finance equipment lease
An unnamed subsidiary of Kernel Group’s (KER PW: N/R) signed an agreement with an undisclosed European bank for USD 15 mln in financing over four years to lease agricultural equipment, according to Interfax.
more
15.05.2008
State Property Fund freezes Oblenergo privatizations
Yesterday Andriy Portnov, acting head of the State Property Fund, suspended the privatization of blocking stakes in six electricity distribution companies (Poltavaoblenergo (POON: U/R), Lvivoblenergo (LVON: U/R), Prykarpatoblenergo (PREN: U/R), Chernihivoblenergo (CHEON: U/R), Sumyoblenergo (SOEN: N/R), Odesaoblenergo (ODEN: SELL)).
more
15.05.2008
Rodovid Bank attracts a USD 10 mln syndicated loan
Rodovid Bank (RODB: BUY) attracted a one-year syndicated loan of USD 10 mln, Interfax said, referring to an undisclosed source.
more
15.05.2008
Kominmet to increase charter fund by 19.5%
At their AGM yesterday, Kominmet (DMZK: HOLD) shareholders approved a 19.5% charter fund increase to USD 12.3 mln via an additional share issue.
more
15.05.2008
Fitch revises Ukraine’s outlook to stable
Fitch Ratings revised the outlook on Ukraine’s ratings from positive to stable, the agency announced yesterday.
more
15.05.2008
Fitch assigns BBB- rating to Class A Notes of Privatbank securitization
Fitch said yesterday that it has rated Ukraine Auto Loan Finance No. 1’s upcoming USD 85.8 mln Eurobond issue Class A notes a BBB- rating and its Class B notes with a volume of USD 18.7 mln a B rating.
more
14.05.2008
Coke production increases by 8.1% yoy in 1Q08
Coke production increases by 8.1% yoy in 1Q08.
more
