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Market comment
The PFTS rebounded 0.44% on Friday to close at 289 points. Utilities were the most actively traded sector: Dniproenergo (DNEN) +1.11%, Zakhidenergo (ZAEN) +7.50%, and Centrenergo (CEEN) -0.04% accounted for 50% of the PFTS' entire turnover on Friday. Stocks in Europe, Asia and US index futures all point to a decline today, as news indicates that the economic slump is only deepening. Fresh reports show that Chinese and Russian manufacturing is continuing to slide. In Russia’s case, in addition to the slowing in industrial output, with unemployment picking up, commodity prices losing ground and credit markets freezing up, more than USD 190 bln has left the country since August. As of 11:30 Kyiv time, 16% of stocks on the PFTS were in the green and 16% were in the red.
Oil & gas
Gazprom confirms payment from Naftogaz, negotiations set to resume Dec. 2. Gazprom today confirmed that it received the initial payment from Naftogaz of Ukraine for its reported USD 2.4 bln debt. Last week, Naftogaz officials said that they agreed with Gazprom to repay USD 380 mln by December 1, after which negotiations on settling the remainder of Naftogaz' debt and the gas price for next year should be resumed. Gazprom officials said in a TV interview today that negotiations would be renewed on December 2.
Infrastructure
Kyivmiskbud to renovate Olimpiyskiy Stadium for Euro-2012. Ukraine's Minister of Family, Youth and Sports Yuriy Pavlenko announced on Friday that Kyivmiskbud will serve as general contractor in the reconstruction of Kyiv's Olimpiysky Stadium for the UEFA European Football Championships in 2012. The total cost of the project was estimated at UAH 2.1 bln (about USD 280 mln). Chairman of Kyivmiskbud's board Petro Shylyuk said works should be completed by December 2010.
Agriculture
Ukrros plans to increase land bank to 110 ths ha by 2010. Ukrros (UROS) said that it planned to boost its land bank from 70 ths ha to 110 ths ha by 2010. The company said it postponed plans to increase its total land to 90 ths ha from end-2008 to 2009. So far this year, Ukrros has already gathered 70 ths mt of wheat, 44 ths mt of barley; corn and sugar beets are still being harvested – Ukrros plans to collect 33 ths mt and 520 ths mt of each of those crops respectively.
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