Daily monitor

The State Statistics Committee of Ukraine announced that the volumes of FDI in January-June 2008 grew 23.4% YTD by USD 6.9 bln, reaching a total of USD 36.5 bln.

The State Statistics Committee of Ukraine announced that real GDP in January-July 2008 grew 6.5% YoY, reaching UAH 530.3 bln (USD 109.3 bln). At the same time, real GDP in July 2008 grew 7.3% YoY and reached UAH 100.2 bln (USD 20.7 bln). The earlier-released figures for January-June 2008 announced 6.3% YoY and, in June 2008, 5.4% YoY.

Motor Sich [MSICH, U/R], one of the largest global producers of aircraft and helicopter engines, reported weak financials for 1H08. Despite the fact that net sales for that period increased by 18.7% to USD 172.2 mln, company’s net revenue decreased by 22.8 times and totaled USD 1.1 mln. At the same time, EBIT decreased by 5.1 times to USD 6.4 mln.

Alchevsk ISW [ALMK UZ, BUY] plans to launch the 3 mln mt oxygen converter No. 2 in mid-September. According to Metal Courier, volumes may not increase immediately because of insufficient pig iron capacities.

Azovstal [AZST UZ, BUY] plans to tune its new 2.5 mln mt concaster No. 6 to design capacity by the year’s end. This was disclosed by a company representative to Interfax-Ukraine at a celebration of the 75th anniversary of the plant in Mariupol.

On Thursday, August 14, the National Bank of Ukraine (NBU) made an Interbank intervention and bought excess USD at the 4.77 UAH/USD rate, UAH 0.074 lower than the official NBU 4.844 UAH/USD rate.

Ukraine’s State Treasury announced that profits of the State Budget’s general fund exceeded planned figures by 9.2% (UAH 8.3 bln, USD 1.7 bln) in 1M-7M08. A month ago, a surplus in profits was announced for 1H08.

The State Statistics Committee of Ukraine announced that unemployment in July fell to 1.8% compared to 1.9% in July, 2% in May and 2.2% in April 2008. Hence the overall number of registered unemployed was 0.519 mln on August 1, 2008. The overall number of unemployed receiving welfare payments was 387.2 thsd. The average monthly payment was UAH 443 (USD 91.3).

Shareholders of Poltava GOK [PGOK UZ, HOLD] will vote on a share capital increase at a September 23 EGM.

On August 12, Concern Galnaftogaz [GLNG UZ, Speculative BUY] disclosed its selected consolidated UAS 1H08 results.