Market comment

Обзоры рынка 20.06.2013 Ukrainian stocks were in a choppy mood ahead of the Federal Reserve’s monetary policy announcement. The WIG Ukraine Index of Warsaw-traded stocks inched up 0.2%, fueled by farmer Industrial Milk (IMC PW +3.2%), which has surged 19.6% this month. In London, traders continued to hammer JKX Oil & Gas (JKX LN -3.3%), which has fallen 16.5% in June to its lowest price in nine-and-a-half years. For months, a group of shareholders led by Igor Kolomoisky has been trying to take control of management. Cadogan Petroleum (CAD LN) jumped 3.0% a day after reporting it will pursue a joint venture in Iraq. Its shares have risen 13.3% this month. Egg producer Avangard (AVGR LI -2.7%) has lost 5.2% this month. In Kyiv, the Ukrainian Exchange (UX) Index slid 0.1%, with the main drag being oil producer Ukrnafta (UNAF UK -1.7%). Unicredit’s Ukrsotsbank (USCB UK +1.2%) has advanced 9.6% in five straight winning sessions.