Poland will spend billions of PLN on railways

Warsaw, Poland (Krzysztof D., CC BY-NC)

Ukraine’s central bank: hryvnia is weakening due to media speculation

Romania, Bulgaria, Austria, Hungary to connect their gas networks

Poland

Polish government will spend more than PLN66bn (EUR15bn) on modernizing and expanding railway infrastructure. As the Polish Radio reports, after Dziennik Gazeta Prawna daily, since the beginning of 2017 the company PKP (Polish State Railways) has “already signed 286 new deals worth over PLN14bn (EUR3.3bn)”. These are projects of modernizing railways and connections between Warsaw (Poland’s capital) and other big cities like Poznań (in the west), Lublin (in the southeast) or Olsztyn (in the northeast).

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Ukraine

After Ukrainian hryvnia (UAH) has been weakening in September 2017, the National Bank of Ukraine decided to explain the situation. After improving the exchange rate to UAH25.44/USD1 in the summer, it dropped to UAH26.47/USD1 as of September 29th. The NBU claims that the “speculations in media regarding the anticipated devaluation of UAH in autumn influence mood of the public”.

The NBU points out that although there have been some negative events (like postponing of the tranches of financing under the program of the International Monetary Fund), there are also many positive factors in the economy – like the exports’ pace growth of 20 per cent during 2017.

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Romania, Bulgaria, Austria, Hungary

Romanian Energy Minister Toma Petcu has informed that four countries: Romania, Bulgaria, Austria and Hungary have committed to completing the gas pipeline (BRUA) which will connect their networks. A memorandum agreement was signed on September 28th. As Romania Insider reports, under the agreement the works will probably start next spring.

The portal comments that the Petcu’s announcement was surprising as a few months ago Hungary informed that “the gas pipeline that should have connected Bulgaria, Romania, Hungary and Austria (BRUA) would stop in Hungary”.

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What’s up in indexes

BET (of Bucharest) increased from 7,935.75 index points Wednesday, September 27th to 7,934.63 index points Thursday, September 28th. It’s up 0.26 per cent d/d and up 14.22 per cent y/y.

BUX (of Budapest) decreased from 37,191.65 index points Thursday, September 27th to 37,191.65 index points Thursday, September 28th. It’s down 0.14 per cent d/d and up 35.36 per cent y/y.

CROBEX (of Zagreb) increased from 1,804.03 index points Wednesday, September 27th to 1,821.32 index points Thursday, September 28th. It’s up 0.96 per cent and down 6.12 per cent y/y.

OMXR (of Riga) increased from 994.98 index points Wednesday, September 27th to 1,001.09 index points Thursday, September 28th. It’s up 0.61 per cent d/d and up 38.21 per cent y/y.

OMXT (of Tallinn) increased from 1,215.50 index points Wednesday, September 27th to 1,219.38 index points Thursday, September 28th. It’s up 0.32 per cent d/d and up 22.18 per cent y/y.

OMXV (of Vilnius) decreased from 638.79 index points Wednesday, September 27th to 638.75 index points Thursday, September 28th. It’s down 0.01 per cent d/d and up 17.56 per cent y/y.

No trading at Prague’s bourse on September 28th. PX (of Prague) closed at 1,043.68 index points Wednesday, September 27th, being 20.47 per cent y/y.

SAX (of Bratislava) decreased from 317.12 index points Wednesday, September 27th to 316.23 index points Thursday, September 28th. It’s down 0.28 per cent d/d and up 1.15 per cent y/y.

SOFIX (of Sofia) increased from 648.12 index points Wednesday, September 27th to 689.37 index points Thursday, September 28th. It’s up 0.77 per cent d/d and up 35.19 per cent y/y.

UX (of Kyiv) increased from 1,156.88 index points Wednesday, September 27th to 1,174.80 index points Thursday, September 28th. It’s up 1.55 per cent d/d and up 41.01 per cent y/y.

WIG20 (of Warsaw) decreased from 2,433.82 index points Wednesday, September 27th to 2,427.04 index points Thursday, September 28th. It’s down 0.28 per cent d/d and up 39.92 per cent y/y.

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