Market comment

Обзоры рынка 05.07.2013 Several Ukrainian stocks enjoyed remarkable surges in demand at the Thursday, July 4 trading session. The WIG-Ukraine Index rose 0.5%, bringing its gains to 2.2% over five straight positive sessions. Investors decided to bottom-fish for miner Sadovaya Group (SGR PW), which skyrocketed 21.6%, and car battery maker WESTA (WES PW), which surged 13.8%. But the biggest story in Warsaw was beyond the index. Serinus Energy (SEN PW), formerly Kulczyk Oil (KOV PW), shot up almost eight times in value to its highest price since its May 2010 IPO after closing for 13 sessions to absorb Winstar Resources. In London, another mining firm, Ferrexpo (FXPO LN +3.2%), drew strong interest. Regal Petroleum (RPT LN -5.7%) continued its erratic performance after reporting poor gas flow at its new wells. Its shares has lost 8.3% since the July 1 announcement. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks inched up 0.1%, led by Azovstal (AZST UK +1.0%).