Market comment

Обзоры рынка 21.11.2013 Ukrainian equities followed Europe’s lead in moving higher on speculation of negative ECB rates on Wednesday, November 20. The WIG Ukraine Index of Warsaw-traded stocks rose 2.1%, fueled by its most liquid component Kernel (KER PW), which jumped 4.2%. Decliners were led by car battery maker WESTA (WES PW -4.7%) and KSG Agro (KSG PW -3.1%). Investors snapped the four-session hot streak of Serinus Energy (SEN PW -0.6%). In London, iron ore miner Ferrexpo (FXPO LN) dropped 2.6%, or 4.1% in two sessions, on reports of an iron ore market oversupply. The Ukrainian Exchange Index of Kyiv-traded stocks was unchanged, with its biggest mover being Raiffeisen Bank Aval (BAVL UK +1.9%), which has surged 18.3% in eight straight positive sessions. Power generator Donbasenergo (DOEN UK +1.4%) has advanced 11.0% in seven straight winning sessions to its highest price since April 2012.