Market comment

Обзоры рынка 16.05.2014       Trading of Ukrainian equities was somewhat stagnant on Thursday, May 15 with very few gains and loses. The WIG Ukraine Index of Warsaw-traded stocks slid 0.8%. Its biggest component, grain trader Kernel (KER PW) was down 2.4% following information that the stock had been excluded from the MSCI Poland index, for a loss of 8.7% in the last five trading sessions. Also down on the day were Agroton (AGT PW -3.4%) and Coal Energy (CLE PW -2.5%). The one bright spot was Industrial Milk Company (IMC PW) gaining 2.6%. In London, the one significant gainer was egg producer Avangardco (AVGR LI) up 2.6%. The most widely traded Ukrainian stock, iron ore miner Ferrexpo (FXPO LN) slipped 0.3%, continuing its rather flat trend of recent days. Also declining were property developer DUPD (DUPD LN -4.4%), and Bank of Georgia Holdings (BEGO LN -2.6%) giving the bank a loss of 12.4% in the last five consecutive trading sessions. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks gained just 1%. The one winner of the day was aerospace company Motor Sich (MSICH UK) gaining 2.7%. All the other components had slight gains or were basically flat.