Market comment

Обзоры рынка 24.07.2014 Ukrainian equities offered investors big gains and losses in trading on Wednesday, July 23. The WIG Ukraine Index of Warsaw-traded stocks rose 1.0%, fueled by its biggest component, grain trader and sunflower oil maker Kernel (KER PW +2.8%), which halting its four-session loss streak. Coal Energy (CLE PW +3.8%) has gained 6.8% in two sessions. KDM Shipping (KDM PW -4.7%) has plunged 14.7% in two sessions to its lowest price since its August 2012 debut. Car battery maker WESTA (WES PW) dropped 3.2% to its lowest price since its June 2011 debut. In London, the most actively traded Ukrainian stock, iron ore miner and pellet maker Ferrexpo (FXPO LN +1.0%), has advanced 4.5% in three straight positive sessions. JKX Oil & Gas (JKX LN -6.0%) has collapsed 17.2% in six straight losing sessions to its lowest price since December 2003. Traders dumped their shares of Europe’s top poultry producer MHP (MHPC LI -5.8%) and top egg producer Avangardco (AVGR LI -3.3%) after the Ukrainian government proposed eliminating agricultural subsidies as part of fiscal austerity measures. In Frankfurt, Mriya Agroholding (MAYA GF) jumped 6.4%. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks improved 1.7%, driven by steel maker Azovstal (AZST UK +4.4%), which has advanced 11.3% in four straight winning sessions.