Market comment

Обзоры рынка 14.03.2013 Ukrainian equities fell victim to European profit-taking after recent gains and a negative news flow on Wednesday, March 13. The Ukrainian Exchange (UX) Index lost 1.6%, with banking stocks falling out of favor for investors. Raiffeisen Bank Aval (BAVK UK -4.6%) has lost 7.2% in three straight losing sessions and Ukrsotsbank (USCB UK -1.9%) has lost 5.1% in three declining sessions. In Warsaw, the WIG-Ukraine Index dropped 1.1%, with sugar producer Astarta (AST PW -2.6%) declining the most. The biggest mover in London was mining firm Ferrexpo (FXPO LN), whose shares plummeted 7.5% after the release of its 4Q12 earnings report. Its shares are down 10.6% for the month.