Market comment

Обзоры рынка 21.05.2013 Ukrainian equities kicked off the week on Monday, May 20 on the upswing and following the lead of the European markets, which continued reaching highs. The WIG Ukraine Index of Warsaw-traded stocks improved 0.4%, led by two agricultural companies: KSG Agro (KSG PW +4.1%), which has gained 6.7% in two sessions, and Agroton (AGT PW +3.4%). The shares of a third agricultural producer, Industrial Milk Company (IMC PW -9.6%), plummeted after the company reported losing CEO Yevgeny Osipov to grain trader Kernel (KER PW), whose shares improved 1.6%. IMC’s new CEO, Alex Lissitsa, is a well-known agri-lobbyist but he’s untested as a corporate executive, which made traders nervous. In London, shares of poultry producer MHP (MHPC LI) slid 2.7% after a strong reaction in the prior session to its first-quarter earnings release. In Kyiv, the Ukrainian Exchange (UX) Index jumped 3.4%, led by the shares of GenCo Centrenergo (CEEN UK +6.9%), which have risen 8.8% in two sessions.