Market comment

Обзоры рынка 14.08.2013 Ukrainian equities behaved tamely in trading on Tuesday, August 13, with the usual exception of thinly traded, erratic stocks. The WIG Ukraine Index of Warsaw-traded stocks increased 0.5%, led by egg producer Ovostar (OVO PW +2.6%) and sugar producer Astarta (AST PW +1.5%), which has risen 5.3% in six straight positive sessions. Among the erratic stocks, Coal Energy (CLE PW) plunged 8.0% and miner Sadovaya (SGR PW) was dealt a correction of 3.7%, dropping 9.6% in the two sessions since its 12.9% surge on August 9 following the release of July trading update. Farmer Agroton (AGT PW) also underwent a correction of 2.9% after surging 25.2% in the previous three sessions, a rise that was triggered by the approval of a bond restructuring on August 8. In London, the biggest mover was Cadogan Petroleum (CAD LN +2.0%). The Ukrainian Exchange (UX) Index of Kyiv-traded stocks slid 0.4%, pulled down by GenCo Centrenergo (CEEN UK -0.9%). Beyond the index, Ukrtelecom (UTLM UK) bounced 3.8% after dropping 12.8% in three straight negative sessions.