The Ukrainian equity market surged yesterday, following approval of Ukraine’s new USD 15 bln facility from the IMF, with the UX jumping up 3.47% to 2,093.85 and the PFTS adding 0.85% to 812.37. Total equity turnover soared, with UAH 100.5 mln crossing the UX (+70.9% day-on-day) and UAH 13.2 mln and moving over the PFTS. Ukrnafta (UNAF UK) continued to be the index’s heavyweight, rising 4.24% on UAH 14.5 mln in volume over 628 trades. Avdiyivka Coke (AVDK UK) moved up 6.68% on UAH 10.4 mln. On the interbank forex market, the Ukrainian hryvnya strengthened further to UAH/USD 8.925.
Current events
30.07.2010
S&P increases Ukraine’s sovereign rating to ‘B+’
Standard & Poor’s announced yesterday it raised Ukraine’s long-term sovereign foreign currency ratings up one step from ‘B’ to ‘B+’ and its long-term sovereign local currency rating from ‘B+’ to ‘BB-’; outlook stable.
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30.07.2010
Motor Sich increases EBITDA 47% yoy in 1H10
Motor Sich (UX: MSICH UK) released its 1H10 financial results yesterday in a company filing.
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30.07.2010
An-148 project could swap out Motor Sich engines
Kommersant reported this morning that Russia is considering replacing Motor Sich (UX: MSICH UK) D-436-148 engines with Russian Saturn and French Snecma-made SaM146 engines for the An-148 project.
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30.07.2010
Ukraine harvest 22 mln mt of grain as of July 27
Ukrainian agricultural producers collected more than 22 mln mt of grains as of July 27, Prime Minister Mykola Azarov said yesterday at a Cabinet of Ministers meeting.
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29.07.2010
IMF gives final approval to USD 15 bln facility for Ukraine
The International Monetary Fund’s executive board yesterday approved a 2.5-year SDR 10 bln (~USD 15.2 bln) stand-by arrangement for Ukraine. USD 1.9 bln is to be available immediately.
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29.07.2010
Ukraine’s public debt grows 5.1% mom in June
Ukraine’s total government debt increased by 5.1% (USD 2.1 bln) m-o-m over June to USD 43.1 bln (~33.4% of GDP), the Finance Ministry reported yesterday on its Web site.
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Ukrnafta (UX: UNAF UK) posted strong financial results for 1H10 yesterday: EBITDA skyrocketed to USD 261.7 mln (EBITDA margin of 28%) from negative USD 13.9 in 1H09; net income was USD 193.3 mln (vs. a net loss of UAH 64.3 in 1H09).
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29.07.2010
Stirol resumes production at idled ammonia plants
Stirol (UX: STIR UK) restarted production at two idled ammonia plants, which have a total production capacity of 1 mln mt per year, according to local media reports.
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29.07.2010
Mriya Agroholding to finish 50 ths mt grain elevator by yearend
Mriya Agroholding (FSE: MAYA GR) plans to launch a 50 ths mt grain elevator in Ternopil region (Derenivka village) by yearend, according to an industry web resource, which cited the Ternopil Regional Administration.
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29.07.2010
Fitch improves Privatbank’s rating to ‘B’
Fitch Ratings announced in a note yesterday that it upgraded Privatbank’s long-term issuer default rating from ‘B-’ to ‘B,’ with a stable outlook.
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