Market comment

Обзоры рынка 09.04.2013 Investors spent the Monday, Apr. 8 session scooping up bargains in Ukrainian equities. In Warsaw, the WIG Ukraine Index slid 0.9%, dragged down by the shares of mining firm Sadovaya (SGR PW -5.3%), which hit their all-time low on Monday with a loss of 13.3% just this month. Sadovaya’s peer Coal Energy (CLE PW) hit its all-time low on Friday, Apr. 5, prompting investors to buy up its shares on Monday at a 3.9% gain. In London, traders bought up shares of egg producer Avangard (AVGR LI +5.0%), which hit their lowest price in more than a year on March 25. Traders also picked up shares of poultry producer MHP (MHPC LI +2.0%), which are down 6.7% this month. In Kyiv, the Ukrainian Exchange (UX) Index improved 1.2% on bargain-hunting that was led by shares of Yenakiieve Steel (ENMZ UK +3.2%), which had been down 3.1% this month, and Ukrsotsbank (USCB UK +3.2%), which had been down 1.7% this month. Traders saw a bargain in shares of electricity producer Centerenergo (CEEN UK +2.4%) after they hit their four-year low on Friday, Apr. 5 following the Uglegorsk power plant fire. Investors extended their selloff of shares of oil producer Ukrnafta (UNAF UK -0.9%), which have plunged 27.7% in 15 straight consecutive sessions to their lowest price in nearly four years. Year-to-date however, Ukrnafta shares are down 4.7%.