Market comment

Обзоры рынка 01.04.2013 Ukrainian equities continued to suffer losses in trading on Friday, March 29. The Ukrainian Exchange (UX) Index dropped 1.3%, finishing March at a 12.4% loss that was prompted by the Cyprus banking fiasco. Shares of engine maker Motor Sich (MSICH UK -3.6%) fell 15.1% in March. Shares of oil producer Ukrnafta (UNAF UK -3.5%) extended their losing streak to a 19.4% plunge over 11 sessions, finishing March at a 20.5% drop. The Warsaw and London stock exchanges were closed for the Easter holiday. The WIG Ukraine Index lost 8.6% of its value in March as shares of its most popular stock, grain trader Kernel (KER PW), dropped 9.2%. Shares of mining firm Ferrexpo (FXPO LN) plummeted 24.0% in March. An exception to the declines was Bank of Georgia (BGEO LN), which surged 10.4% in March, reaching its all-time high on March 26.