Market comment

Обзоры рынка 20.06.2012 Warsaw’s WIG-Ukraine index rose 1.1% on Tuesday, as both Europe and frontier markets rallied on expectations ahead of a US Federal Reserve meeting today that central banks would take new measures to stimulate the global economy. Kulcyzk Oil Ventures (KOV PW) lept up 8.6% yesterday following news it tested a new well. Other Ukrainian stocks in Warsaw to move up were Agroton (AGT PW) +2.9% and Industrial Milk Company (IMC PW) +2.4%. The local UX index, meanwhile, landed in the red for the second straight day. Seven of 10 blue chips closed down, led by Raiffiesen Bank Aval (BAVL UK) -4.1% and Ukrsotsbank (USCB UK) -3.3%. In London, most Ukrainian equities posted strong gains over the session, including MHP (MHPC LI) +9.7%, JKX Oil & Gas (JKX LN) +5.3% and Ferrexpo (FXPO LN) +4.1%.