Market comment

Обзоры рынка 03.04.2013 Investors kept shedding their Ukrainian equities on Tuesday, Apr. 2 in the aftermath of the Uglegorsk power plant fire, though several stocks in Warsaw drew demand. The WIG Ukraine Index improved 1.2%, fueled by the shares of sugar producer Astarta (AST PW +3.0%) and egg producer Ovostar (OVO PW +2.3%), which posted better-than-expected revenue. On the downside, shares of farmer Industrial Milk (IMC PW) plunged 4.5%. In London, shares of mining firm Ferrexpo (FXPO LN) plummeted 4.6%, deepening their loss this year to 34.2%. The Ukrainian Exchange (UX) Index in Kyiv fell 3.0%, dragged down by shares of the owner of the destroyed Uglegorsk plant, Centerenergo (CEEN UK -10.2%), which have crashed 27.3% in three sessions. Another crashing stock is oil producer Ukrnafta (UNAF UK -4.1%), whose value has been plundered by 27.1% in 13 consecutive losing sessions. Investors have also been selling off shares of engine maker Motor Sich (MSICH UK 3.4%), which are down 7.6% this year.