Daily Insight-In spotlight: Economy\'s external debt; banks\' P&L for February; bonds, steel news

From the opening bell, the UX opened in positive territory and trended higher, closing up 4.8% on the day on $27.5m in volume. For the second consecutive trading session, Motor Sich staked its claim as the volume leader, with an 8.7% gain on $12.4m in volume, moving higher in anticipation of news at the company\'s AGM on 24 March. All 15 of the index components closed higher, as blue-chip metals issues led with 8.5-12% gains. On Tuesday, investors will focus on Ukrnafta\'s EGM, which will cover an additional share issuance. Among foreign-listed issues, Oil & Gas explorers Cadogan and JKX ascended 8.11% and 1.79%, respectively, while poultry producer MHP (+4.26%) and Milkiland (+4.26%) moved up on lighter volumes. Another agro holding company, Mryia, is conducting a road trip this week for a planned Eurobond issue that was previously postponed, in late 2010.

Global bourses finished mostly positive, as did crude oil and gold, seeming to focus on the good news while discounting recent concerns. China hiked reserve ratio requirements ?% for the third time this year, signaling further tightening to combat higher inflation. Russia followed Canada in revising downward this year\'s grain harvest forecast, claiming a lack of financing and poorer quality of seeds. Concerns over radioactive contamination of Japanese food supplies also signal tighter global food supplies. While the markets may be choppy, over the medium to longer term, these events should draw more investor interest toward the agricultural sector, including foreign-listed Ukrainian names.