Market comment

Обзоры рынка 28.10.2013 Disappointing earnings reported by grain trader Kernel, the second most actively traded Ukrainian stock, sent Ukrainian equities plummeting on Friday, October 25. The WIG Ukraine Index of Warsaw-traded stocks plunged 6.3% after traders sold off their shares of Kernel (KER PW -14.7%), which hit its lowest price in more than three years. Not only did FY2013 earnings disappoint, but the company reported poor earnings expectations for the following year. In London, egg producer Avangard (AVGR LI) jumped 4.0% to its highest price in more than 17 months after releasing its third quarter earnings. The Ukrainian Exchange (UX) Index of Kyiv-traded stocks slid 0.9%, pulled down by Unicredit’s Ukrsotsbank (USCB UK -2.6%). Raiffeisen Bank Aval (BAVL UK +4.7%) has surged 14.0% in four straight positive sessions.