Market comment

Обзоры рынка 29.01.2014 Ukrainian equities were mostly in the black on Tuesday, Jan. 28, boosted by the government’s first steps to resolve the political crisis with the prime minister’s resignation. The WIG Ukraine Index of Warsaw-traded stocks rose 1.3%, fueled by its biggest component, grain trader Kernel (KER PW +1.7%), which has gained 3.0% in two sessions. Its most volatile stocks had big jumps, namely Coal Energy (CLE PW +12.6%) and farmer Agroton (AGT PW +12.4%), while Milkiland (MLK PW) improved 3.5%. In London, the most actively traded Ukrainian stock, iron ore miner Ferrexpo (FXPO LN), increased 3.0% after Nomura Securities improved its outlook on the sector to neutral. Egg producer Avangardco (AVGR LI) jumped 4.5%, while Bank of Georgia (BGEO LN –4.3%) extended its slide to 11.1% in four straight losing sessions. Poultry producer MHP (MHPC LI -1.6%) has lost 6.3% in three straight negative sessions. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks rose 0.9%, led by GenCo Donbasenergo (DOEN UK +4.2%). Outside the Index, Ukrtelecom (UTLM UK) jumped 15.4%.