Ukrainian Agrarian Index: 4th consecutive day of decline
2012-06-26 15:15:47
UAIndex has indicated decline 4th day straight, ending the day with -0.18% of subtotal capitalization drop, despite relatively positive market news regarding Ukrainian agro holdings raising additional funds. In fact, prices might decline due to several companies issuing secured bonds, leading to artificial decline of companies’ capitalization for lower buying prices. Wheat futures declined 6.3% in a daily period, complimented by overall increase in prices of commodities, excluding crude oil. Euro lost against USD and GBP, as Eurozone still faces an ongoing debt issues of several member-countries. Major global indices have moved down in sync with UAIndex performance.
AgroInvest comment: Aside from being highly correlated with major indices, UAIndex also faces consequences of political risks, posed by Ukrainian government, thus pushing index towards downward trend.
For more detail please refer to the UAIndex Daily (June 25 issue).
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