Daily monitor

In November, Avdiivka Coke [AVDK UZ, U/R] decreased output of 6%-humidity gross coke by 25% MoM to 171 thsd mt, according to Interfax-Ukraine. In comparison with the average 11M08 output at 341 thsd mt, the November volume was down 50%. The total 11M08 production volume of 3.75 mln mt is up 16% YoY.

In November, Alchevsk ISW [ALMK UZ, U/R] smelted 189 thsd mt of crude steel, according to Interfax-Ukraine. November’s volume is 34% up MoM, but still 50% below the 11M08 average of 376 thsd mt. The total 11M08 crude steel production volume of 4.135 mln mt is 15% up YoY.

The National Electricity Regulatory Commission of Ukraine (NERC) will not revise electricity tariffs for all consumer groups until April 2009, said Commission Head Valery Kalchenko.

The Zaporizhia car assembly plant (ZAZ) – the largest producer of cars in Ukraine – has received a syndicated loan valued at USD 62.5 mln. According to Ukrainian News, this information was made public by the law firm Baker & Mckenzie, which served a legal adviser to ZAZ in facilitating this particular deal.

The government established that the maximum total markup on medications put on the national list of vital health products should not exceed 50%, including the wholesale markup ceiling of 15% and the retail sale markup ceiling of 35%.

A large stake (206.0 mln shares, 7.93%) in Khartsyzk Pipes & Tubes [HRTR UZ, N/R] changed hands on December 02 in a single deal on PFTS, the main Ukrainian stock exchange. The price was UAH 2.15 per share (USD 0.291 at USD/UAH 7.38). The deal amounted to UAH 442.8 mln (USD 60.00 mln), bringing the valuation of the entire company to USD 757 mln.

Kredobank [ZUKB UZ, U/R] is going to obtain a USD 90 mln loan from its parent structure PKO Bank Polski SA, according to Kredobank’s press service.

The Multilateral Investment Guarantee Agency (MIGA), which is the political risk insurance arm of the World Bank Group, said it has issued its fourth guarantee in support of the banking sector in Ukraine. The USD 247 mln guarantee is covering a shareholder loan from UniCredit Bank Austria AG to Joint Stock Commercial Bank for Social Development Ukrsotsbank [USCB UZ, U/R] – Ukraine’s fourth largest bank.

According to official data released by the State Statistics Committee of Ukraine, in October 2008 Ukraine’s cheese exports increased by 9.4% MoM to 6.7 thsd mt (USD 33.6 mln). Exports in January-October 2008 increased by 28.6% YoY to 63.95 thsd mt (USD 338.1 mln).

An EGM of Ukrnafta [UNAF UZ, BUY], which was scheduled for today, did not take place because of the absence of the shareholders’ registry. The agenda for the EGM included profits’ distribution for 2006 and 2007, as well as recalling and electing the Supervisory Board, the Revision Board, and the Management Board of the company.