Market comment

Обзоры рынка 04.04.2013 The selloff in Centerenergo shares – triggered by its power plant fire – cooled off in trading on Wednesday, April 3, but that didn’t stop investors from continuing to dump their Ukrainian equities. The WIG Ukraine Index in Warsaw dropped 1.2%, weighed down by shares of farmer Industrial Milk (IMC PW -4.8%), which have plunged 9.1% in two sessions. Another big decliner was mining firm Sadovaya (SGR PW -4.2%), whose shares have fallen 23.7% this year. In London, shares of egg producer Avangard (AVGR LI -3.0%) have lost 30.3% of their value this year. Shares of mining firm Ferrexpo (FXPO LN -2.4%) have dropped 6.9% in two sessions, or 35.8% this year. In Kyiv, the Ukrainian Exchange (UX) Index slid 0.9%, dragged down by steel maker Azovstal (AZST UK -3.4%). Investors kept selling their shares of GenCo Centerenergo (CEEN UK -0.5%), which crashed 27.7% in four losing sessions, and oil producer Ukrnafta (UNAF UK -0.2%), which have plummeted 27.2% in 14 straight losing sessions.