Market comment

Обзоры рынка 03.06.2013 Disappointing Kernel earnings caused Ukrainian equities to conclude the month on the downswing in the May 31 trading sessions. The WIG Ukraine Index of Warsaw-traded equities fell 1.5%, finishing the month at a 0.9% gain. The Index was pulled down by miner Sadovaya (SGR -4.4%), which concluded the month at a 6.9% advance; grain trader Kernel (KER PW -4.0%), which finished the month at a 0.2% gain; and farmer Agroton (AGT PW -3.1%), which concluded the month at a 5.2% advance. Traders indulged in bottom-feeding for Coal Energy (CLE PW +11.9%), which plunged 23.0% during the month. In London, shares of miner Ferrexpo (FXPO LN) dropped 2.4%, finishing the month at a 4.4% decline. In Kyiv, the Ukrainian Exchange (UX) Index was unchanged, concluding the month at a 4.9% advance. Friday’s top gainer was Ukrnafta (UNAF UK +1.5%), which finished the month at a 2.2% gain.