Market comment

Обзоры рынка 27.05.2013 Ukrainian equities took Europe’s lead in finishing a downcast week by sinking even further in the Friday, May 24 trading session. The WIG Ukraine Index of Warsaw-traded stocks fell 0.4%, extending its loss to 5.4% over four straight declining sessions. Contributing the most to the loss was Milkiland (MLK PW -4.1%), which dropped 13.7% in six straight decreasing sessions. The dairy producer’s shares are at their lowest price since their December 2010 IPO. Grain trading giant Kernel (KER PW -0.2%) lost 9.8% in four straight dropping sessions. Coal Energy (CLE PW -2.6%) fell 11.0% in four straight declining sessions. In London, shares of mining firm Ferrexpo (FXPO LN -2.9%) lost 12.0% in three straight falling sessions. In Kyiv, the Ukrainian Exchange (UX) Index improved 0.4%, led by Azovstal (AZST UK +1.7%) and Yenakiieve Steel (ENMZ UK +1.7%). We expect slow trading today on the Memorial Day holiday in the U.S.