Market comment

Обзоры рынка 21.02.2013 Ukrainian equities bucked slumps in the European and Moscow stock markets with modest gains on Wednesday, Feb. 20. The Ukrainian Exchange (UX) Index improved 1.1%, gaining 5.3% in three straight positive sessions. The top gainer was electricity generator Donbasenergo (DOEN UK +4.4%), whose shares jumped after the state indicated it would privatize its 61% stake. DOEN stock has risen 7.9% in two sessions. In Warsaw, the WIG-Ukraine Index inched up 0.3% despite declines in the overall market. Traders cashed in on their gains from shares of grain trader Kernel (KER PW -1.2%), which gained 4.4% in a five-session streak. They also took their profit off shares of mining firm Sadovaya (SGR PW -4.5%), which surged 8.8% in the prior session. On the flip side, investors scooped up shares of sugar producer Astarta (AST PW +4.1%), which lost 8.6% in four straight losing sessions. In London, traders dumped their shares of JKX Oil & Gas (JKX LN -6.2%) and mining firm Ferrexpo (FXPO LN -3.5%), whose price has seesawed this week. Ukrainian stocks didn’t have the chance to react to the Feb. 20 release of the Federal Reserve’s FOMC minutes, which is why we expect selling activity this morning.