Market comment

Обзоры рынка 08.08.2013 Earnings reports trumped tapering concerns in influencing Ukrainian equities in trading on Wednesday, August 7. The WIG Ukraine Index of Warsaw-traded stocks was unchanged, with big gainers and losers offsetting each other. KSG Agro (KSG PW) surged 7.7% after reporting it attracted a new loan for farming operations. KDM Shipping (KDM PW +4.3%) recouped all its losses from the prior session, when it fell 4.1% after reporting a decline in July revenue. On the losing end, farmer Agroton (AGT PW) dropped 5.1% on the eve of a bondholder meeting that will decide today whether to agree on offered Eurobond restructuring terms. Coal Energy (CLE PW -4.0%) has plunged 16.8% in four straight losing sessions. Serinus Energy (SEN PW -2.0%) has fallen 10.6% in four straight declining sessions. The biggest story was in London, where investors scooped up the shares of iron ore miner Ferrexpo (FXPO LN +13.2%) after it reported its second-quarter earnings. Nevertheless, the stock has fallen 26.4% this year. Cadogan Petroleum (CAD LN) improved 3.2% while poultry producer MHP (MHPC LI) slid 2.4%. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks dropped 0.4%, weighed down by Yenakiieve Steel (ENMZ UK -1.0%).