Ukrainian Stocks Track Global Declines
The VIX Index — which reflects traders’ expectations for S&P 500 volatility — surged 32% on Friday, jumping from 16 to 21.7. The spike came after President Donald Trump announced plans for additional import tariffs on China, raising the risk of renewed escalation between the world’s two largest economies.
The S&P 500 dropped 2.7% on Friday, erasing its gains for the past month, while the tech-heavy Nasdaq tumbled 3.6%. Shares of Tesla, Amazon, NVIDIA, and Palantir each slid about 5%, wiping billions off their market capitalizations. The U.S. equity market appears poised for a potential trend reversal, as the S&P 500 is currently trading at a price-to-earnings ratio of around 30x — well above its historical median of 18x.
Ukrainian equities mirrored the global selloff. Ferrexpo (FXPO) shares fell 7.8% to GBp 48.80, valuing the miner at USD 391mn.
Sugar maker Astarta (AST) declined 1.6%, while MHP (MHPC) lost 5.0%.
Kernel (KER) shares edged up 0.4% to PLN 19.00 after the company released its annual report showing earnings of PLN 3.19 per share and book value of PLN 25.64 per share. That puts the stock at a modest P/E multiple of 6.0x and P/B ratio of 0.7x. Still, upside for Kernel’s shares remains limited as the company continues its delisting process from the Warsaw Stock Exchange.
Kernel’s eurobonds maturing in October 2027 were little changed at 86 cents on the dollar, implying a yield to maturity of about 15%.
In New York trading, Kyivstar (KYIV) stock decreased by 1.5% to USD 11.82 remaining in the consolidation corridor.
Highlights
- Trump Threatens Moscow with Tomahawk Deliveries to Ukraine
- Ukraine Inflation Slows to 11.9% YoY in September
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