OREANDA-NEWS. November 8, 2011. Ukrainie’s GDP growth estimate. According to data previously released by the State Statistics Service of Ukraine, Ukraine’s GDP growth in 3Q2011 surpassed even the wildest predictions and reached 6.6% YoY.

Equity market. The high volatility on stock exchanges around world was also found on the Ukrainian Exchange. Some reasons which prompted investors to purchase shares included positive statistics from the USA labor market as well as unexpected drop of the ECB interest rate from 1.5% to 1.25%. Meanwhile, the Greek financial crisis again accounted for massive sales on the market. This time, it was news of a referendum on the adoption of measures proposed by the European Union suggested by Greece’s Prime Minister George Papandreou. Though he later dropped the proposal under pressure from EU and domestic dissent, the damage to stock markets had already been done. Overall, the Ukrainian Exchange Index dropped 4.3%, to 1449 points, during the week of October 31. The liquidity on the market continued to increase, with the total trading volume increasing by 21.6% WoW. Stocks were traded for a total to UAH 1.33 bln (USD 166.7 mln), which includes UAH 684.1 mln (USD 85.7 mln) from the derivatives market. Investors on the Ukrainian Exchange market are ready to make purchases, but the optimism is not currently strong enough to start a long term upward movement on the Ukrainian Exchange Index.

Enakievo Steel (ENMZ; BUY) stock was one of the most volatile on the market, with the quotations ranging from -7.7% to +12.6%. Overall, the company’s stock increased by 2.0% for the week. Dniproenergo (DNEN; BUY) was among the top performing stocks of the week at an increase of 3.8% for the week. Alchevsk Iron and Steel (ALMK; BUY HIGH RISK) became the most liquid equity on the exchange, with its stock traded for UAH 108.9 mln (USD 13.6 mln) in 8177 transactions.

Last week, Ukrsotsbank (USCB; BUY) and Raiffeisen Bank Aval (BAVL; BUY) were the two poorest performing stocks in the index basket, losing 14.3% and 12.2% of stock value respectively.