Daily monitor

PPI in July increased 3.6% MoM after a 4.2% MoM growth in June. Thus, PPI grew 46.3% YoY after a 43.7% YoY growth in June and 34% YTD in July compared to 29.4% in June.

The State Statistics Committee of Ukraine has announced CPI figures for July 2008. CPI fell 0.5% MoM, thus indicating monthly deflation for the first time since March 2006 and breaking the deflation record set six years ago.

Due to artificially low heat distribution tariffs Kyivenergo [KIEN] may suffer USD 80 mln net loss by the end of 2008.

Electricity production in Ukraine for the 7M08 increased 2.5% reaching 115 bln kWh.

According to Analytical Agency the Agriculture, after analyzing statistical export data in July, Ukrainian forage crops – corn, wheat and barley - exported at above average global prices. Corn prices DAF (delivered at frontier) slated between USD 260-USD 290 per mt.

Kryukiv Railcar [KVBZ, BUY] has bought a 75% stake in the Kremenchug Metal Products Plant.

Turboatom [TATM, HOLD] won the tender for upgrading a K-300-240-2 turbine at the first power generating unit of the Zuev TPP (Vostokenergo, Donetsk Region).

ArcelorMittal Kryvyy Rih [KSTL UZ, BUY] reportedly doubled YoY its net income in 1H08.

According to an official company press release, during June-July, Concern Galnaftogaz [GLNG UZ, Speculative BUY] expanded its network of branded OKKO stations by 13 units.

At the end of July, Concern Galnaftogaz [GLNG UZ, Speculative BUY] disclosed its UAS non-consolidated 1H08 results.