OREANDA-NEWS. November 9, 2010. UFC Capital released daily market view:

New income tax. The government rejected plans to decrease the income tax rate from 25% to 19% in a single year and is preparing to decrease taxes by 2% per year over the course of three years. The Cabinet of Ministers is planning to cover for the decrease in budget losses through IMF loans.

Equity market. On November 8, the UX Index opened with a sharp fall in stock prices due to investors looking to fix profits. News regarding Ireland’s budget problems reinforced the negative trend. As a result, the UX Index was in the “red zone” throughout the day. Overall, stocks on the Ukrainian Exchange declined by 3.1%, to 1972.89 points. Thus, the indicator again dipped below the 2000 point mark. The total trading volume on the day reached a record 353.8 mln hrvynia, including 59.0 mln hrvynia from the futures market.

The leaders in trading volume in the order-driven market of the Ukrainian Exchange were once again securities of  Alchevsk Iron and Steel (ALMK; SELL), Avdiivka Coke (AVDK; HOLD), and Ukrnafta (UNAF; BUY) at volumes of 43.9 mln hrvynia, 24.6 mln hrvynia, and 18.9 mln hrvynia respectively. There was a slight increase in the share price of Northern Mining (SGOK; BUY) and Stakhanov Railcar (SVGZ; SELL), which grew by 0.8% and 0.52% respectively.

There was a sizeable decrease in share values of Enakievo Steel (ENMZ; HOLD) and Zakhidenergo (ZAEN; SELL). Shares of the companies decreased in value by 4.02% and 8.5% respectively. It should also be noted that in the banking sector of the UX Index, Forum Bank (FORM; UNDER REVIEW) showed the largest drop in value – 5.26%.