Market comment

Обзоры рынка 11.07.2013 Weak Chinese trade data hurt demand for Ukrainian mining equities on Wednesday, July 10. Yet their decline played a minor role on the WIG Ukraine Index of Warsaw-traded stocks, which improved 1.2% owing to ongoing demand for powerhouse grain trader and sunflower oil producer Kernel (KER PW +3.9%). The Index has gained 6.5% in nine consecutive advancing sessions, largely by piggybacking Kernel’s 9.6% advance over seven straight winning sessions. The Index’s biggest decliners were mining firms Coal Energy (CLE PW -4.8%), which plummeted to its lowest price since its August 2011 IPO, and Sadovaya Group (SGR PW -2.8%), which has plunged 16.1% in four straight declining sessions. Traders ended the four-session, 25.7% hemorrhaging of Serinus Energy (SEN PW +4.1%) following its absorption of Kulczyk Oil. In London, miner Ferrexpo (FXPO LN) fell 3.7%, cutting its July gain to 12.6%. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks slid 0.3%, pulled down by Alchevsk Steel (ALMK UK -1.4%).