Daily monitor

At the July 04 AGM, shareholders of Alchevsk ISW [ALMK UZ, BUY] approved the results of a share offering that lasted almost a year - from July 16, 2007 until June 25, 2008. As a result, the statutory fund increased by 139% to UAH 2.56 bln (about USD 550 mln).

Ukrnafta [UNAF UZ, BUY] will likely announce another AGM within the next week.

State Statistics Committee released June figures for CPI. MoM CPI change for June is the lowest in 2008 (0.8% against the next lowest of 1.3% in May). YTD and YoY CPI change in June are 15.5% and 29.3% respectively.

Ukraine's Cabinet of Ministers submitted Parliament a revised budget for 2008 that assumes an 11.7% increase in profits and 10.3% increase in expenses.

MCB Agricole [4GW1 GR, N/R], a holding company for the Ukrainian agricultural company Ukrzernoprom, is planning to increase its net revenues by USD 40 mln to 56 mln, with its net income to grow by 3.5 times to USD 14 mln in 2008.

Interpipe Nyzhnodniprovsky Pipe Rolling Works [NITR UZ, BUY] has introduced a new anti-corrosive coating line for oil and gas pipes.

Kryukiv Railcar [KVBZ UZ, U/R], the unique Ukrainian producer of both freight and passenger railcars signed a contract last week with Ukrzaliznytsya (UZ) to deliver two rail buses by the end of this year.

At a July 04 EGM, shareholders of Azovstal [AZST UZ, BUY] approved a statutory fund increase plan.

Ivano-Frankivskcement [IVFC, U/R] has opened a new cement plant with an installed capacity of 1.2 mln tons per year.

Mostobud [MTBD, BUY] began the reconstruction of the Olympic Stadium, the main event venue for Euro 2012 in Ukraine.