Market comment

Обзоры рынка 28.05.2012 Ukrainian equity markets were broadly neutral on Friday, with the WIG-Ukraine and UX indices both down just 0.1%. Though uncertainty over the outcome of Greek parliamentary elections on June 17 remained, sentiment was buoyed by consumer confidence reports from Germany and the U.S., with both frontier markets and European measures mostly flat (MSCI FM +0.1%, MSCI Europe -0.3%). In Warsaw, Ovostar Union (OVO PW) rose 12.1%, returning to its level a week ago after cancelling plans for a private placement. Stocks on the local Ukrainian Exchange were mixed. Among the worst performers were steel makers Yenakiieve Steel (ENMZ UK) -6.8% and Alchevsk Iron & Steel (ALMK UK) -2.8%. In London, Ferrexpo (FXPO LN) fell 1.7% and JKX Oil & Gas (JKX LN) shed 2.3%.