Major benchmark on Ukrainian Stock Exchange is PFTS index. It used to be the best performing index one year ago. Ukraine was also one of the most resistant market in the beginning of global markets turmoil and kept its excellent performance. Early 2008 PFTS index was still traded at all time high.
But that's the history. Now it is the worst performing index with y-o-y 80% down. On Friday government halted trading on stock exchange to protect against free fall.
Ukraine is highly dependent on industrial production and agricultural commodities, particularly steel, fertilizers and grain. Falling commodity prices pushed many companies into red numbers. Also banking sector show alarming signals. One of the major banks collapsed and 5 others asked government for assistance.
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We have been speaking about the Baltic markets as well as Ukraine on Myinvestorsplace.com... the question is how many other markets will be following ...the dominoes seem to keep on falling...where are we headed?
Andy
Hello Andrew,
thanks for comment. Yes you are rights. Especially latest news from
Middle East show there is no safe place to be.