Market comment

Обзоры рынка 11.07.2012 Ukraine’s benchmark equity index, the UX, pushed back into positive territory on Tuesday, supported by reports from Europe of better-than-expected manufacturing data from the U.K. and Italy and plans from EU finance ministers to support Spanish banks. The UX rose 2.4%, making it the day’s best performing index in Europe, according to Bloomberg. All 10 local blue chips posted gains, led by power generators Donbasenergo (DOEN UK) +5.4% and Centrenergo (CEEN UK) +3.3%. Ukrainian names in London also advanced yesterday: after releasing operational updates a day earlier, both Ferrexpo (FXPO LN) +5.5% and JKX Oil & Gas (JKX LN) +2.4% got boosts. The situation was quite different in Poland, where the WIG-Ukraine index lost 0.5%. Eight of 10 index components lost ground, led by Astarta (AST PW) -1.5% and Milkiland (MLK PW) -1.1%.