Friday results mixed with WIG-Ukraine up and UX down

2013/9/16 11:42:31

Ovostar and Kernel help the advance in Warsaw while Motor Sich drags down the UX


KYIV, Sept 16, 2013 (UBO) – Barack Obama has shown a willingness to face reality recently in at least two cases. First, there was the headlong race toward intervention militarily in Syria, which at the last minute was aborted by booting the decision to a very reluctant Congress.

 

The second difficult reality for Obama came when Larry Summers, his choice for head of the United States’ central bank, the Federal Reserve, announced he was withdrawing his name from contention. That appeared to clear the field for the market’s choice, long-time Fed Vice Chair Janet Yellen, who now seems the odds-on favorite to receive nomination by Obama and a fairly easy glide through the approval process in the U.S. Senate.

 

Investors in Europe have already this morning telegraphed their approval of the Summers stand-down by extending a five-year high in European stocks. There appear to be two major reasons for Yellen’s popularity with investors – first, she has long experience with all the necessary levers of power within the Fed and – perhaps more important – investors believe she will take a much more measured pace toward reducing the current $85 billion per month of new capital injections.

 

Analysis of last week’s trading

 

Concorde Capital provides more information on Friday’s close to last week’s trading of Ukrainian stocks in its daily comment:

 

“Ukrainian equities offered some substantial gains and losses in trading on Thursday, September 12. The WIG Ukraine Index of Warsaw-traded stocks increased 1.3%, extending its win streak to five straight sessions at an 8.1% gain. Egg producer Ovostar (OVO PW +4.6%) has advanced 8.4 % in three straight positive sessions, while the Index’s most popular stock, grain trader Kernel (KER PW +3.8%), has surged 12.7% in five straight winning sessions. KSG Agro (KSG PW +3.1%) has improved 5.9% in three straight advancing sessions. In London, egg producer Avangardco (AVGR LI) jumped 3.3%, while traders dumped their shares of Regal Petroleum (RPT LN -6.7%) and JKX Oil & Gas (JKX LN -2.9%). The Ukrainian Exchange (UX) Index of Kyiv-traded stocks slid 0.7%, weighed down by engine maker Motor Sich (MSICH UK -1.9%), which snapped its six session win streak at a 9.6% gain.”

 

For charts of last session top-3 map, last session performance and more, link below:

www.concorde.ua

 

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