Market comment

Market comment



2 травня 2014 года
Конкорд Капитал

Performance of Ukrainian equities was mixed on Wednesday April 30, as investors sentiment was affected by the expected new lending to Ukraine by the IMF, the anticipation of long May holidays in Ukraine which might bring more violence in Eastern regions, and the approached deadline of 2013 IFRS reporting for Warsaw and London stocks. Three Warsaw-listed stocks that decided to postpone their reporting for May-June were failing on Wednesday’s session: WESTA (WES PW, -1.8%), KSG Agro (KSG PW, -3.0%) and Sadovaya Group (SGR PW, -2.4%). Coal Energy (CLE PW) lost 6.7% in Wednesday’s session after it reported last week that its quarterly revenue will halve yoy in Jan-Mar 2014. Though, thanks to a 3.8% advance of Astarta (AST PW) and a 1.4% growth in the price of Ovostar (OVO PW), which reported an increase in all P&L items for 2013 on that day, the Warsaw WIG-Ukraine index advanced 1.0%. The UX index of Kyiv-listed stocks fell 0.9% in the day, led by a 3.7% fall in shares of Alchevsk Steel (ALMK UK) and a 3.4% decrease in share price of power GenCo Donbasenergo (DOEN UK). Its shares lost 11.0% (or UAH 5.4) in two consecutive losing sessions as investors seem to have decided that the ex-dividend date (for the announced DPS of UAH 6.7) has been passed. In London, Regal Petroleum lost 8.6% (11.1% in two sessions) after it reported a severe impairment of its assets in the annual report, as a result of a nearly 3x yoy decrease of estimates of its 2P reverses.

All Kyiv exchanges are closed for trading on Thursday and Friday for Workers Day holidays, and the Warsaw stock exchange has a day-off today. London stock exchanges will be closed on Monday.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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