Market comment

Обзоры рынка 23.10.2012 The Ukrainian Exchange was down again on Monday as earnings reports from developed market countries continued to underwhelm. The UX slipped 0.7% and had seven of its 10 blue chips fall. The worst performers were Donbasenergo (DOEN UK) -1.8% and Azovstal (AZST UK) -1.7%. Meanwhile, in Poland, the WIG-Ukraine index rose 0.3%, led by gains in Kernel (KER PW) +2.2% and Coal Energy (CLE PW) +1.6%. Sadovaya Group (SGR PW) continued to tumble, shedding -20.0% yesterday to hit a new all-time low of PLN 2.5, after a disappointing production report last week; the stock is down 43.8% in the last two days. In London, MHP (MHPC LI) added 1.8%, while other Ukrainian names were little changed. The local market looks set to start a third straight day in the red, following losses this morning in Russia at open.