OREANDA-NEWS. January 18, 2010. UFC Capital released daily market view:

SCSSM increases it influence on stock exchanges. January 14, the State Committee for Securities and Stock Market (SCSSM) made public its draft amendments to the Law On securities and stock market. The stock market regulator is going to legalize the procedure for agreeing with it of candidates for position of stock exchanges and depositaries chief executives. Besides, if nonresident buys in excess of 50% stake in depositary or stock exchange, as well as in cases of stake increase to a controlling one, the compulsory condition for the deal will be to get a written consent from the SCSSM.

Equity market. Thursday, January 14, the index of Ukrainska SE (UX), following the growth of RTS index as well as of the European consolidated index, climbed 2.39%. Practically during the entire day the bullish sentiments prevailed in market. That day 2,248 deals were made on Ukrainska SE for the total of UAH 48.6 mn. The quotations of Yasinovka Coke (YASK), Azovstal (AZST), and Sumy Frunze Machine Engineering (SMASH) demonstrated the biggest increase on the order-driven market – 8.3%, 6.7%, and 6.4%, accordingly.

Fixed-income market. The start of 2010 was market by decline in yields of all series of Ukrainian sovereign Eurobonds. So, presently, the yields are within a rather narrow range of 9.7%-10.3%. The similar developments in this segment do not seem logical, since the macroeconomic grounds for increase in attractiveness of Ukrainian papers in early 2010 are lacking, especially in light of additional political exposures coupled with presidential elections. It is most likely that this situation can be explained by purely market nuances connected, inter alia, with opening of limits for emerging markets at the start of the year.