Mixed Week for Equities
Ukrainian equities listed abroad posted mixed performance during the week. Kyivstar (KYIV), which debuted on Nasdaq in mid-August, shed 7.6% of its market capitalization, reflecting heightened volatility amid renewed Russian missile attacks. The stock closed Friday at USD 12.43, while Wall Street investment banks issued price targets of around USD 16, implying nearly 30% upside potential.
At an emergency meeting of the U.N. Security Council on Friday, the United States warned Russia to move toward peace and meet with Ukraine or face possible sanctions. The meeting was called after a major Russian missile and drone attack on Ukraine overnight from Wednesday to Thursday that killed at least 23 civilians.
Ukraine has accepted a U.S. proposal for a ceasefire and a meeting between Putin and Zelenskyy, but Moscow has raised objections.
The war in Ukraine is certain to be a top issue at the annual gathering of world leaders at the U.N. General Assembly from Sept. 22 to Sept. 29.
Among agricultural names, Kernel (KER) dropped 9.0% to PLN 19.30, with traders citing low free float as a factor driving speculative price swings on light trading volumes.
Astarta (AST) edged up by 0.8% to PLN 49.80 despite the company reported a weak interim financial results and IMC grew by 1.1% to PLN 27.70.
Shares of gas producer Enwell Energy (ENW) jumped 15% to GBp 23.0 after the company initiated arbitration proceedings against Ukraine over the suspension of its extraction licenses, imposed under sanctions targeting its beneficial owner.
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