Daily monitor

Dnipropetrovsk Tube Works [DTRZ UZ, SELL] reduced its pipes output 21% YoY to 73.2 thsd metric tons and produced 18.1 thsd metric tons in May 2008.

According to the market research agency IKS-Consulting, Ukrtelecom [UTEL UZ, U/R] increased its broadband users by 21% in 2008Q1.

On June 24, the Main Control and Auditing Administration [GlavKRU] accused the leadership of Ukrtelecom [UTEL UZ, U/R] of the non-targeted use of state-allocated resources.

Krasnoarmiyska-Zahidna #1 Coal Mine [SHCHZ UZ, N/R] increased its coal output 2% to 2.54 mln metric tons and obtained 0.5 mln metric tons of coal in May 2008.

Ukrnafta [UNAF UZ, BUY] failed to convene an AGM on June 24.

On June 24, 253.2 thsd mt of crude oil were sold at Resources Auction 118, which took place on the floor of the Ukrainian Interbank Currency Exchange.

Avantazh Corporation is initiating a private placement of 15% of its shares in Nov-Dec 2008.

Fitch Rating has assigned a BB- long term rating to the five-year USD denominated Ukrainian government bonds.

Ukrnafta [UNAF UZ, BUY] will attempt to convene an AGM today. The meeting’s extensive agenda includes the election of all governing bodies of the company, change of registrar, and profits distribution for 2006 and 2007.

Ukrnafta [UNAF UZ, BUY] plans to sell 240.1 thsd mt of oil and 6.8 thsd mt of gas condensate at the Ukrainian Energy resources Auction 118 on June 24. In comparison with the previous auction, the initial UAH price for Ukrnafta’s oil is the same, at UAH 2,600 per mt (USD 63.7 per bbl net of VAT using USD/UAH 4.64, up 3.2% from USD 61.7 per bbl).