Market comment

Обзоры рынка 02.04.2013 Investors burned through their Ukrainian equities on Monday, April 1 after they spent the weekend learning the extent of the damage caused by the fire at Centerenergo’s largest power plant, the Uglegorsk thermal electric station in the Donetsk oblast. The Ukrainian Exchange (UX) Index plummeted 6.7%, pulled down by shares of GenCo Centerenego (CEEN UK), which crashed by 17.4%. Shares of oil producer Ukrnafta (UNAF UK -5.6%) have fallen 23.9% over 12 straight losing sessions. The Warsaw and London stock exchanges were closed for Easter Monday. We expect traders on these exchanges will dump Ukrainian shares today in a delayed reaction to the Uglegorsk fire.