Market comment

Обзоры рынка 19.03.2013 Investors dumped Ukrainian equities – particularly banking stocks – in trading on Monday, March 18 in reaction to the Cyprus bank-deposit levy. The Ukrainian Exchange (UX) Index plunged 2.3%, led by Raiffeisen Bank Aval (BAVK UK -5.9%) and Ukrsotsbank (USCB UK -4.4%), which has plummeted 14.7% in six straight falling sessions. In Warsaw, the WIG-Ukraine Index dropped 1.2%, weighed down by the shares of car battery maker WESTA (WES PW -5.3%) and KSG Agro (KSG PW -3.5%). Kernel (KER PW -1.9%) has lost 3.1% in four straight losing sessions. In London, shares of mining firm Ferrexpo (FXPO LN) extended their up-and-down roller coaster ride, falling 4.0% and widening their March loss to 13.2%.