Market comment

Обзоры рынка 22.03.2013 Investors extended their sell-off of Ukrainian equities on Thursday, March 21, fueled by concern for the ongoing Cyprus fiasco. In Warsaw, the WIG Ukraine Index plunged 2.3%, weighed down by the shares of mining firm Sadovaya (SGR PW -5.8%) and grain trader Kernel (KER PW -5.0%), which have lost 12.6% of their value in seven straight falling sessions. Shares of car battery maker WESTA (WES PW -4.3%) are down 6.9% in two sessions. In London, shares of egg producer Avangard (AVGR LI) plummeted 7.5%, deepening losses to 11.3% in four straight declining sessions. Shares of mining firm Ferrexpo (FXPO LN -1.0%) have lost 16.2% of their value in a four-session skid prompted by reports predicting falling iron ore prices. Shares of poultry producer MHP (MHPC LI -1.7%) have plunged 7.8% in five straight losing sessions. In Kyiv, the Ukrainian Exchange (UX) Index fell 0.9%, dragged down by Donbasenergo (DOEN UK -2.2%). Investors were bottom-feeding on Unicredit’s Ukrsotsbank (USCB UK +3.3%), which is down 13.7% for the month.