The dollar demonstrated a noticeable surge against other currencies amid escalating geopolitical risks. Additionally, a significant factor strengthening the American currency is the shift in expectations regarding the onset of a cycle of lower interest rates by the Federal Reserve. Following the release of inflation data in the US, which turned out worse than forecasted, market players speculate that the US Central Bank will not lower its key rate until September, thereby keeping the value of money at a relatively high level. The yield on the 10-year US bonds increased by approximately 20 basis points to 4.6% this week. Currently, the 1-year yield on US bonds stands at 5.1%.
On the currency market, the dollar gained 1.5% against the euro last week (1.06 EUR/USD). The hryvnia also felt the strengthening of the dollar. On the interbank market, the exchange rate rose by 50 kopecks to 39.48 USD/UAH.
A force majeure event occurred on the Ukrainian stock market. CentrEnergo (CEEN), a company whose shares are traded on the exchange, suffered critical damage to its Trypilska Thermal Power Plant as a result of russian missile strikes. The last indicative price of CentrEnergo shares was UAH 3.00 (MCap of USD 28mn). For comparison, in 2007, the market capitalization of CentrEnergo on the exchange briefly reached up to USD 2bn.
Ukrainian agro companies listed abroad were highly volatile over the week. Kernel (KER) surged by 22% to PLN 11.24 (MCap of USD 818mn) while Astarta (AST) decreased by 4.3% to PLN 27.95 (MCap of USD 169mn).
POLITICS AND ECONOMICS
- Chasiv Yar is New Donbas Hotspot as US Inches Toward Ukraine Aid Approval
STOCKS IN THE NEWS
- Trypilska TPP CentrEnergo Is Destroyed by russian Missile Strikes.
The Company Announces the Complete Loss of Its Production Capacity.
full reportThe 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
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