Market Comment

Investors were selling Ukrainian equities on Monday, Feb. 8. The WIG Ukraine Index of Warsaw-traded stocks fell 1.3% in a third consecutive negative session. This time, the decrease was driven by sugar producer Astarta (AST PW), which dropped 4.7% and coal producer Coal Energy (CLE PW, -2.0%). At the same time, the index’s biggest component, sunflower oil producer Kernel (KER PW) gained 0.5%, ending a two-session cold streak. In London, the most actively traded Ukrainian stock, iron ore miner Ferrexpo (FXPO LN) declined 4.8% in its first negative session in three days. Ukraine’s biggest egg producer Avangardco (AVGR LI) lost 11.1% on Monday, or 20.0% in three sessions. The Ukrainian Exchange Index (UX) of Kyiv-traded stocks was flat.