Market comment

Обзоры рынка 04.09.2012 Warsaw’s WIG-Ukraine index started September in positive territory as Europe and most emerging markets continued to benefit from stimulus bets. The index rose 2.1% on Monday as eight of 11 index components moved up. The best performers were Astarta (AST PW) +3.7%, Westa (WES PW) +2.2% and Kernel (KER PW) +2.2%. The local Ukrainian Exchange meanwhile fell 0.8%. Nine of the 10 local blue chips were red, with the biggest losers Azovstal (AZST UK) -1.6% and Alchevsk Iron & Steel (ALMK UK) -1.1%. In London, most Ukrainian equities were also lower, including JKX Oil & Gas (JKX LN) -2.4%, Avangard (AVGR LI) -2.2% and Ferrexpo (FXPO LN) -1.2%.