Market comment

Обзоры рынка 10.09.2012 Ukraine’s UX index advanced for the second straight day on Friday, as investors bet on Chinese government spending and the ECB’s bond-buying plan. The UX rose 0.9%, in line with advances elsewhere in Europe and the frontier market space. Six of the 10 local blue chips were up, with the biggest gainers Ukrsotsbank (USCB UK) +4.3% and Yenakiieve Steel (ENMZ UK) +3.3%. Warsaw’s WIG-Ukraine index, meanwhile, finished 0.7% underwater. Declines in Kernel (KER PW) -2.1% and Agroton (AGT PW) -1.8% helped to pull the index down, counteracting five upward movers including Westa’s (WES PW) 22.2% on the day. In London, Ferrexpo (FXPO LN) surged up 18.2% after sentiment rebounded toward metals names. JKX Oil & Gas (JKX LN), +3.1%, and MHP (MHPC LI), +4.3%, also rose over the session.