A Floor from Which to Rise

Market operators again have their job cut out for them with domestic state bonds. It was defined by the slight demand and debt payoffs by the Ministry of Finance. The biggest volume of the bids was registered with domestic bonds, over 67%. Both long-term (11-38 weeks maturity) and short-term (5-6 weeks) bonds were bought and sold. As for corporate stock, bids were made by both senior traders (who regularly trade daily) and newcomers (who bid only occasionally).

Electricity Generating

The best quotation for purchase of Dniproenerho (Dnipro Energy; 2.55% of the overall bid volume) fell 23.84% during the week. Sevastopolmiskenerho (Sevastopol City Energy; 4.76% of volume) gets bids very seldom: the last bid was registered on August 26, 1998. The ask price declined seven times last week, even though the cost of the last bid almost doubled.

Fossil fuels

The bids were registered only for Ukrnafta (Ukrainian Oil; 2.3% of volume). Despite the new dividends, adopted by the stockholders’ meeting at 0.25% the stock nominal value, the prices continue declining. The best bid price decreased 21.6% during the week.

Metallurgy

Last week this sector was represented by Khartsysk Rolled Metal (1.77%). The purchase price declined two times over, although the actual transaction price remained practically stable (minus 4.76%), which means the interest remained unchanged.

Beer Brewing

The purchase quotations for the Slavutych Brewery (3.9%) grew along with the bid price. Demand remained constant.

The situation is totally different at the Rohan Brewery (11.76%): purchase prices fell (45%) along with bids (30.86%).

In general, the week for Ukrainian stocks left the impression of a solid floor from which we can push ourselves upward, which means that operators can play with liquid stock in anticipation of their rise.