Market comment

Обзоры рынка 16.04.2013 Ukrainian equities suffered their latest sell-off on Monday, April 15 after Chinese data revealed a slowing economy, sending global commodity prices plummeting. Ukrainian equities already underwent two sell-offs, prompted by the March 29 Uglegorsk power plant fire and the March 15 announcement of the Cyprus bank deposit levy. The WIG Ukraine Index in Warsaw plunged 4.5%, though its biggest decliner suffered for reasons other than the global commodity plunge. Investors sent Agroton (AGT PW) careening 68.6%, deepening its crash to 86.5% in the two sessions after S&P reduced the firm’s credit rating on worsened liquidity. Shares of the farming and food-producing firm are at their lowest price since their November 2010 IPO. Coal Energy (CLE PW -10.0%) has plummeted 20.2% in two sessions to its lowest price since its August 2011 IPO. Shares of mining firm Sadovaya (SGR OW -5.2%) hit their lowest price since their December 2010 IPO. In London, Ferrexpo (FXPO LN) plummeted 8.1% as part of a global mining sell-off triggered by the commodity plunge. Real estate entity DUPD (DUPD LN -6.3%) extended its erratic pattern in recent weeks while shares of egg producer Avangard (AVGR LI) dropped 4.5%. In Kyiv, the Ukrainian Exchange (UX) Index declined 1.9%, led by Alchevsk Steel (ALMK -3.9%). We expect losses in trading today following extended selling in Asian equities and Astarta’s report of profit loss in 2012.