Yesterday the PFTS rose 1.38% to 963.57 on a healthy USD 14.79 mln equity volume, marking 10 straight trading sessions of gains. The PFTS has now rallied back 16.8% from its sharp sell-off in April. Stakhaniv Wagon (SVGZ: BUY) saw the most activity, trading USD 1.78 mln in volume and closing up 1.87%. Continued interest in Chervonoarmiyska Zakhidna (SHCHZ: BUY) pushed the price up 1.31% on a relatively heavy USD 1.38 mln volume. SHCHZ shares have rallied nearly 20% on heavy volume since its recent lows at the end of April. Centerenergo (CEEN: HOLD) rounded out the top 3 active names with USD 1.16 mln in volume and rising 1.65%. We expect another day of strong volumes today on the PFTS, especially in steel and coal sectors, as investors bet that the market bottom is behind us and take advantage of attractive investment opportunities. As of 12:30 Kyiv time today, 70% of stocks were up and 12% were down.
Current events
16.05.2008
Interpipe cools to 2008 IPO
Interpipe, the Ukrainian steel group that includes Nyzhnyodniprovsk Pipe (NITR: HOLD), Novomoskovsk Pipe (NVTR: HOLD) and Niko Tube, renounced intensions to hold an IPO in 2H08 on the London Stock Exchange due to unfavorable market conditions, group’s CEO Hennadiy Hazin told the Financial Times yesterday.
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16.05.2008
Motor Sich to produce military helicopter engines in Russia
Motor Sich (MSICH: BUY) plans to start manufacturing engines for military helicopters in the Russia cities of Bykovo and Dubna, company CEO Vyacheslav Bohuslayev said yesterday.
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16.05.2008
Kyivenergo to lose USD 160 mln from heat production in 2008
Kyivenergo (KIEN: HOLD) estimates its losses from generation and supply of heating at USD 160 mln in 2008, due to low tariffs, said company’s chairman Serhiy Titenko yesterday.
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16.05.2008
Poltavaoblenergo AGM fails to convene due to lack of quorum
Poltavaoblenergo’s (POON: U/R) AGM scheduled for May 14 failed to take place due to lack of quorum, the company said yesterday.
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16.05.2008
Vanco names partners to develop Prykerchenska offshore area
Yesterday Vanco's Senior Vice-President Jeff Mitchell named financial partners to explore and develop the Prykerchenska area in Ukraine: Donbas Fuel and Energy Company (DTEK), Shadowlight Investments Limited (related to Russian businessman Eugene Novitskiy) and Integrum Technologies Ltd.
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16.05.2008
Landkom to harvest 14 ths ha of wheat and oilseed rape in 2008
Landkom International (LKI LN: N/R) announced that it has completed planting over 4 ths ha of spring wheat for harvest in August and September 2008, in addition to 10 ths ha of wheat and oilseed rape already planted in sutumn 2007.
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16.05.2008
Rodovid Bank to attract a USD 45 mln loan
Rodovid Bank (RODB: BUY) plans to raise a USD 45 mln loan from Deutsche Investitions - und Entwicklungsgesellschaft and Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden, bank CEO Denis Gorbunenko said yesterday.
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16.05.2008
Fortis to acquire P&C insurer in Ukraine
Fortis, one of the biggest European financial groups, is looking to acquire P&C insurance company in Ukraine, Delo newspaper said yesterday, citing Alexander Kuleshin, the chairman of Fortis’s Ukrainian subsidiary.
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16.05.2008
Computers sales grow 55% yoy in 1Q08
PC turnover in Ukraine rose 55% yoy to 589 ths units in 1Q08, according to IDC, an international research agency.
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16.05.2008
Imports of pharmaceuticals rises 38% yoy in 1Q08
Pharmaceutical product imports grew 38.4% yoy in 1Q08 to USD 498.6 mln, the State Statistics Committee reported yesterday.
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Yesterday the PFTS rose 1.38% to 963.57 on a healthy USD 14.79 mln equity volume, marking 10 straight trading sessions of gains. The PFTS has now rallied back 16.8% from its sharp sell-off in April. Stakhaniv Wagon (SVGZ: BUY) saw the most activity, trading USD 1.78 mln in volume and closing up 1.87%. Continued interest in Chervonoarmiyska Zakhidna (SHCHZ: BUY) pushed the price up 1.31% on a relatively heavy USD 1.38 mln volume. SHCHZ shares have rallied nearly 20% on heavy volume since its recent lows at the end of April. Centerenergo (CEEN: HOLD) rounded out the top 3 active names with USD 1.16 mln in volume and rising 1.65%. We expect another day of strong volumes today on the PFTS, especially in steel and coal sectors, as investors bet that the market bottom is behind us and take advantage of attractive investment opportunities. As of 12:30 Kyiv time today, 70% of stocks were up and 12% were down.
