Equities Performance: Gains for MHP, Astarta Dips Slightly
Ukrainian equities presented mixed performances. Shares of MHP (MHPC) rose 2.6% over the week to USD 4.34, giving the Ukrainian agribusiness giant a market capitalization of USD 465mn. In contrast, Astarta (AST) saw a moderate decline of 0.8%, closing at PLN 37.50, translating to a market cap of USD 225mn.
Hryvnia Declines 0.5% to 41.85 UAH/USD on the Cash Market
The hryvnia reacted negatively to the government’s forecast that the exchange rate will reach 45 UAH/USD next year. Currently, the hryvnia trades at 41.65 UAH/USD on the interbank market. The National Bank spent USD 709mn from the FX reserve to support the hryvnia last week.
S&P 500 Surges to Historic High, but Valuations Raise Overheating Concerns
The S&P 500 reached a new all-time high, crossing the psychological threshold of 6,000 points. The benchmark U.S. index gained 1.1% during the shortened trading week, closing at 6,032 on Friday. However, concerns over valuation are growing, with the index’s price-to-earnings ratio at 26x, significantly above the 20-year average of 16x.
A wave of optimism driven by robust macroeconomic data continues to sustain high prices for risk assets. Yet, apprehensions about accelerating consumer inflation have emerged, particularly if President-elect Trump’s promised import tariffs are implemented. This could alter the trajectory of the Federal Reserve’s key interest rate, a critical benchmark for institutional investors. The probability of a rate cut in December currently stands at 65%.
POLITICS AND ECONOMICS
- Ukraine’s 2025 Budget: USD 38.4 Billion Deficit Amid War-Driven Spending and Slower Growth Forecasts
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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