Daily monitor

Odessa Baby Food Cannery (OBFC), is a major operational asset of the Vitmark holding. Vitmark is the second largest juice producer in Ukraine, with a market share of 23%.

The electricity distribution company, Poltavaoblenergo [POON], reported that its 2Q08 net sales are up by 28% YoY, amounting to USD 72 mln.

The wholesale electricity price for August 2008, set by the National Electricity Regulatory Commission (NERC), increased 3% compared to June, reaching USD 73 per MWh.

Zaporizhtransformator [ZATR, N/R], one of largest world producer of electric transformer equipment decided to pay 68.9 mln in dividends from its 2007 net income.

Dnipropetrovsk Comintern Steel Works [DMZK UZ, U/R] increased pipes’ output by 31.4% YoY to 116.2 thsd metric tonnes in 1H2008 and produced 17.8 thsd metric tonnes in June 2008.

Ukrnafta [UNAF UZ, Strong BUY] plans to sell 226.8 thsd mt of oil and 7.3 thsd mt of gas condensate at the Ukrainian Energy resources Auction 119 on July 22.

We upgrade Dnipropetrovsk Iron & Steel Works named after Petrovsky [DMZP UZ, BUY], or Petrovka, from HOLD to BUY due to the recent technical share price decrease.

We upgrade ArcelorMittal Kryvyy Rih [KSTL UZ, BUY] from HOLD to BUY due to the recent technical share price decrease.

In 1H08, Stakhaniv Railcar Works [SVGZ UZ, BUY], increased its production by 33.7% (852 railcars) up to 3380 railcars as compared to the corresponding 2H07 number.

In 1H2008, Interpipe Nyzhnodniprovsky Pipe Rolling Works [NITR UZ, BUY], reduced its pipe output 2.3% YoY to 303.3 thsd metric tons.