World Indices
| Symbol | Name | Last trade | Last date | Daily change, % | Archive |
|---|---|---|---|---|---|
| ^DJI | Dow Jones | 11 204.28 | 2010-04-23 | +2.15 | Archive |
| ^BVSP | BRAZIL BOVESPA | 69 509.49 | 2010-04-23 | -3.17 | Archive |
| ^IXIC | Nasdaq | 2 530.15 | 2010-04-23 | +3.46 | Archive |
| RTS.RS | RTSI | 1 626.21 | 2010-04-26 | +1.45 | Archive |
| ^HSI | Hang Seng | 21 589.75 | 2010-04-26 | +1.63 | Archive |
| ^N225 | Nikkei | 11 135.04 | 2010-04-26 | +2.02 | Archive |
| ^GDAXI | Daxx | 6 317.44 | 2010-04-26 | +0.93 | Archive |
| ^FTSE | FTSE | 5 776.09 | 2010-04-26 | +0.92 | Archive |
| ^FCHI | CAC 40 | 4 001.70 | 2010-04-26 | +1.28 | Archive |
| PFTS | PFTS | 941.73 | 2010-04-30 | +2.05 | Archive |
| UX Index | UX Index | 2 566.73 | 2010-04-23 | +0.63 | Archive |
Weekly Note
(19.07.10 –23.07.10)
· The situation at the world financial markets remains the key factor that influences local stock market
· The banking sector stimulated growth of the whole Ukrainian stock market
Last week, the Ukrainian stock market demonstrated growth. The PFTS index grew by 1.45%, to 801.52 points, the UX index - by 2.10%, to 1987.3 points. Equity trading volumes were UAH 87.73 MM and UAH 495.05 MM respectively.
Mostly traded at the UX were the stock of Ukrsotsbank [USCB] – UAH 24.9 MM, Ukrnafta [UNAF] – UAH 19.3 MM and Raiffeisen Bank Aval [BAVL] – UAH 16.3 MM.
The top gainers were Forum [FORM] – rose by 9.4%. Raiffeisen Bank Aval [BAVL] grew by 7.4%, Sumy machine-building plant [SMASH] - by 6.3%.
We believe the growth of the domestic banking sector was mainly due to the positive expectations about its financial results in 2Q10. The National Bank of Ukraine (the NBU) informed that the total Ukrainian banking system loss in 1H10 was UAH 8.3 MM which is 1.7 times less than in the same period in 2009. This growth was also stimulated by successful results of the stress tests applied to the parent companies of the local banks. Besides, the initiation of further negotiation with the IMF on the next stand-by credit for Ukraine on July 28 was also the factor that added stabilization to the Ukrainian banking sector. It will also make loans granted by the banks to local corporate clients more feasible.
The Ukrainian stock indices followed the same trends as the European trading floors did. The PFTS demonstrated fall till Wednesday, and then it started to follow the upward trend. The same was the movement of the UX index, except for the Friday when it somewhat sank.
Among the focal points of the last week was arrest of the ISD Corporation assets caused by non-payment of the ISD’s metallurgical plants for the raw materials delivered by Metinvest for total UAH 1.7 bn. Such news cannot have any positive impact on the ISD stock value in the short term outlook. Thus, we expect the quotations of the Alchevsk metallurgical plant and Dnirpovsky metallurgical plant may fall this week.
Last week, the market participants’ activity recommenced. The growth was mainly due to the positive international news, and also the Prime Minister’s announcement about the 6.3% growth of Ukraine’s GDP in IH10.
We also expect the market to be situational this week. The Ukrainian stock market will be mainly guided by the macrostatistics from USA and Europe.
