Market comment

Обзоры рынка 25.05.2012 Warsaw’s WIG-Ukraine index bounced 0.6% on Thursday, on gains in Milkiland (MLK PW) +5.2%, Sadovaya Group (SGR PW) +2.9% and Kernel (KER PW) +2.0%. The advance was backed by a wave of buying on weakness across Europe yesterday (MSCI Europe +1.0%). Frontier markets, on the other hand, were still sliding yesterday (MSCI FM -0.3%), as there was little tangible progress on the Greek crisis and a series of downbeat Eurozone economic data. The local UX found itself on that losing end of the equity spectrum, shedding 1.3% over the session. The worst performers were index heavyweights Motor Sich (MSICH UK) -3.6% and Centrenergo (CEEN UK) -4.0%.