Ukrainian Stocks Demonstrate Upward Momentum
Shares of Ukrainian companies listed on foreign exchanges exhibited mostly positive trends. Ferrexpo (FXPO) led gains, surging 8.7% to GBp 82.9 pence, valuing the company at USD 625mn. While Ferrexpo shares remain down 8.1% year-to-date, they have recovered significantly from a low of GBp 40 per share seen in September.
MHP (MHPC) edged up by 1.0% to USD 4.08 (MCap of USD 437mn) and Astarta (AST) rose by 3.8% to PLN 35.45 (MCap of USD 211mn).
Hryvnia Starts to Feel Pressure from The Dollar Strength
As the US dollar gained from 1.09 to 1.05 against Euro this month, the strength in US currency prompted more speculation about the expected hryvnia devaluation. However, the National Bank continued to prop up the national currency spending USD 553mn on interventions last week. The cash exchange rate moved by 0.2% to 41.60 UAH/USD. On the interbank market the dollar now trades at 41.37 UAH/USD.
Global Markets Correct Amid Rate Speculation
Global equities saw a correction last week, with the S&P 500 dropping 2.1% after reaching a record high. Active traders revised expectations for a December rate cut by the Federal Reserve, with the probability now at 60%, down from 80% earlier.
POLITICS AND ECONOMICS
- Ukraine Explores Reopening Airspace, Lviv Airport Could Lead in 2025
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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