Market comment

Обзоры рынка 17.07.2013 A default announcement by farmer Agroton cast a pall over Ukrainian equities in trading on Tuesday, July 16. The WIG-Ukraine Index of Warsaw-traded stocks fell 0.6%, pulled down by the ravaged shares of Agroton (AGT PW), which plummeted 36.4% after it announced it can’t make a USD 3.1 mln coupon on a bond. Although European mining shares improved yesterday, investors sold off on Coal Energy (CLE PW -5.6%). KSG Agro (KSG PW -4.5%) has lost 7.5% in two sessions. In London, miner Ferrexpo (FXPO LN) rose 4.3% after Rio Tinto PLC announced it achieved record iron ore output in the second quarter. Cadogan Petroleum (CAD LN) dropped 3.1%, while Regal Petroleum (RPT LN -2.9%) has lost 6.3% in three straight declining sessions. The Ukrainian Exchange (UX) Index of Kyiv-traded equities slid 0.2%, dragged down by Centrenergo (CEEN UK -2.6%), which indicated it needs more money from electricity consumers to repair the Uglegorsk thermal power plant. Unicredit’s Ukrsotsbank (USCB UK +2.3%) has gained 11.2% in eight straight winning sessions.