Market comment

Обзоры рынка 24.05.2013 The biggest single-day drop in European stocks since July – prompted by Federal Reserve comments and poor Chinese data – hit Ukrainian equities hard in the Thursday, May 23 trading session. The WIG Ukraine Index of Warsaw-traded stocks fell 1.5%, pulled down by Coal Energy (CLE PW -5.8%), which has lost 8.6% in three straight declining sessions. Shares of grain trader Kernel (KER PW -3.6%) have plunged 9.7% in three straight losing sessions. Milkiland (MLK PW -0.2%) has fallen 10.0% in five straight negative sessions. In London, shares of mining firm Ferrexpo (FXPO LN) plummeted 8.8% while shares of poultry producer MHP (MHPC LI –2.6%) have lost 3.9% in two sessions. The only positive story in Europe was Cadogan Petroleum (CAD LN +6.2%). In Kyiv, the Ukrainian Exchange (UX) Index lost 2.5%, weighed down by GenCo Centrenergo (CEEN UK -3.6%) and steel producer Azovstal (AZST UK -3.1%).