Market comment

Market comment



18 травня 2012 года
Конкорд Капитал

Ukrainian stocks tumbled again on Thursday as equities globally continued to be hit by fear that Greek debt woes could spread and about Spain’s banking system. The WIG-Ukraine index plummeted 5.4% (-13.8% over the last five sessions), with all but two index components lower. The worst performers were Agroton (AGT PW) -10.1%, and Kernel (KER PW) -7.8%. We believe Kernel’s poor 3Q results, the broad market weakness and 9% month-to-day zloty devaluation vs. USD create a perfect entry point into the stock and upgraded our recommendation on Kernel yesterday to BUY. Meanwhile, the story was much the same on the local Ukrainian Exchange, which fell 2.4% (-8.5% over the last five sessions), and also only two index stocks posted slight gains. The day’s biggest losers were Yenakiieve Steel (ENMZ UK) -7.7% and Ukrnafta (UNAF UK) -5.7%. Ukrainian equities in London were also tagged, with Cadogan Petroleum (CAD LN) shedding 8.5% and Regal Petroleum (RPT LN) putting off 6.3%.

Источник: Конкорд Капитал

Аналитик: Бред Вэллс
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