OREANDA-NEWS. May 11, 2010. UFC Capital released daily market view:

Equity market. The trading session on Friday was indeed a “black” day for the Ukrainian stock market. The Ukrainska SE index started to fall sharply, virtually immediately off the open of trading activity. By the end of the day, it had lost 9%, which is the biggest one-day drop in the index in nearly a year. On the order-driven market, the issuers that recorded the greatest losses were Dniproenergo (DNEN; SELL), Alchevsk Coke (ALKZ; BUY), and Ukravto (AVTO; HOLD). Their shares declined in value by 16.9%, 16.8%, and 15%, respectively.

The decline seen on the Ukrainian market was due to investors’ reaction to the recent developments on global trading floors. The US stock market, which demonstrated disheartening dynamics on Thursday by falling 3% for the day, created a generally negative background for the end of the trading week for investors. As a result, on Friday, the main European stock indices lost another 3-4% on average, while the Russian RTS, amidst generally negative dynamics and a drop in crude oil prices, shed 5.6%. The key drivers for market players’ pessimism were increasing concerns about the prospects for redemption of sovereign bonds by a number of European countries, as well as the extraordinary volatility of the US market.