Market comment

Market comment



4 грудня 2014 года
Конкорд Капитал

International investors panicked at the beginning of the Dec. 3 trading session after rumors spread of an accident at a Ukrainian nuclear power plant, but the Ukrainian markets rebounded after they were dispelled. Equity traders went on to extend a correction of Ukrainian stocks in Warsaw and continued shedding gas stocks in London on Wednesday. The WIG Ukraine Index of Warsaw-traded stocks dropped 2.4%, or 2.7% in two sessions. Its biggest component, grain trader and sunflower oil maker Kernel (KER PW) decreased 2.3%, or 3.9% in two sessions. Another top component, sugar maker Astarta (AST PW) plunged 7.8%, followed by farmer Agroton (AGT PW -7.2%). Outside the index, natural gas explorer and producer Serinus Energy (SEN PW -0.8%) has plummeted 16.4% in six straight losing sessions after the state intensified restrictions requiring top consumers to buy gas from state company Naftogaz.



In London, the most actively traded Ukrainian stock, iron ore miner and pellet maker Ferrexpo (FXPO LN), increased 0.9%. JKX Oil & Gas (JKX LN -14.7%) has collapsed 48.2% in three straight negative sessions to its lowest price since February 2003. Poultry producer MHP (MHPC LI) plummeted 8.2% to its lowest price since October 2011. Regal Petroleum (RPT LN -4.9%) has fallen 13.4% in two sessions while Cadogan Petroleum (CAD LN +3.3%) has risen 9.4% in two sessions. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks increased 1.0%, or 3.8% in three straight positive sessions. Yenakiyeve Steel (ENMZ UK +6.3%) has advanced 17.2% in four straight winning sessions.



On the fixed income side, bearish sentiments prevailed during the day, while in the afternoon bottom fishing started in the Eurobonds of DTEK (DTEKUA) and ULF (UKRLAN), the worst performers of the previous session.

Источник: Конкорд Капитал

Аналитик: Максим Слободской
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