Kyivstar Falls 12% Ahead of Earnings; U.S. Tech Stocks Retreat on Valuation Concerns
Kyivstar (KYIV) shares dropped 12% during the week, returning to the USD 12.00 – USD 12.50 range. The telecom operator is set to release its quarterly earnings on November 11, which could trigger a rebound if profit figures exceed market expectations.
CentrEnergo (CEEN) said its thermal power plants have halted generation after sustaining new damage from Russian attacks, which hit the same facilities the company had rebuilt following a devastating strike in 2024. The company’s shares remain illiquid, with the last recorded trade on the PFTS exchange in August at UAH 4.90.
U.S. equities saw a notable correction as soaring valuations in the tech sector came under pressure. Palantir shares slumped 11% over the week, while NVIDIA dropped 7%.
Gold rose to USD 4,080 again as a weakening US economy increased the chance of a rate cut next month. The precious metal built on gains made on Friday as a measure of US consumer sentiment fell to near the lowest on record, with the shutdown and rising prices souring. A private report the day before signaled a weak labor market in the US.
Gold has retreated around 7% since hitting a record high above USD 4,380 an ounce in mid-October. It’s still up more than half this year, however, and most of the factors that have propelled the blistering rally — heightened economic and geopolitical uncertainties and elevated central bank and retail buying — remain in place.
POLITICS AND ECONOMICS
- Ukraine’s Banks Cut Bad Loans Ratio to 25%, Lowest Since 2015
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