European investors are looking for safe haven
2012-05-31 12:31:23
UAIndex declined -0.55% as the majority of the European indices indicated drop in value. Major drop in oil prices as well as an ongoing political instability in Spain and Greece are seen as major catalyst of poor stock performance. Euro declined against USD almost 6% this month, gaining against PLN and in loss against GBP.
AgroInvest comment: Current situation makes it more difficult to attract additional funds from Eurozone for Ukrainian agro holdings. Despite constant increase in volume of production and thus revenue growth, Ukrainian entities are still seen as high-risk, long-term return type of assets, making investors cautious regarding any commitment to this sector. Political risks in Ukraine do not make the situation any better.
For more detail please refer to the UAIndex Daily (May 30 issue).
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