Global stock market indices experienced a noticeable decline over the
past week. In particular, the S&P 500 dropped by 2.1% to 4,369 points,
while the MSCI composite index for emerging markets lost 2.4%. The negative
trend was driven by investors perceiving risks of another interest rate hike in
the US and concerns about a global economic slowdown amid weak data from China.
The decision regarding the key interest rate in the US will be announced on
September 20th. Currently, the rate stands at 5.5%, and it is projected to
remain unchanged after the next Federal Reserve monetary policy meeting. The
yield on 10-year US bonds is at 4.25%, while for 2-year US bonds, it’s 4.94%. A
higher yield on short-term bonds compared to long-term ones serves as an
indicator of a potential recession in the US.
At the Ukrainian Exchange, trading in shares was almost non-existent due
to the lack of noticeable demand or supply for shares in the index basket. As a
result, quotes for Raiffeisen Bank (BAVL) securities remain at 26 kopecks, and
for CentrEnergo (CEEN) shares at UAH 4.8.
In Warsaw, Kernel (KER) stocks dropped by 3.2% to PLN 13.74 (down 22%
since the beginning of the year). In its operational report, Kernel highlighted
that it continues the process of delisting its shares from the exchange but has
not yet received a final decision from the Polish financial regulator. Agroton
(AGT) shares decreased by 2.1% to PLN 2.82 (down 18% since the beginning
of the year). Astarta (AST) stock prices went down by 5.4% to PLN 30.90 (up 52%
since the beginning of the year).
The exchange rate of the dollar in the cash market increased by 1.5%
over the week to 37.95 UAH/USD, likely due to speculative demand for currency
ahead of the fall season.
STOCKS IN THE NEWS
- Kernel Reports 45% Increase in Winter
Wheat Yield
The National Bank of Ukraine has
opened a special fundraising account to support the Armed Forces of Ukraine.
Please find more at the National Bank’s official website
under the link below:
www.bank.gov.ua
full report
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