The US to help Poland and Ukraine disconnect from Russian gas

Presidents Andrzej Duda and Volodymyr Zelensky, Warsaw, Poland (Krzysztof Sitkowski/KPRP, Public domain)

Moody’s raises Bulgaria’s outlook to positive

Liberty Steel to invest EUR200m in Romania

Ukraine, Poland and USA

All three countries agreed to enhance cooperation over secure gas supplies in the region which still relies on Russia. “We’re helping Poland to reduce its dependence on Russian gas,” the US Energy Secretary Rick Perry told a news conference in Warsaw after meeting officials from Poland and Ukraine.

The Polish government official responsible for energy infrastructure, Piotr Naimski, said Poland, which has increased purchases of liquefied natural gas (LNG) from the United States in recent years, would be able to send six billion cubic meters of gas to Ukraine starting from 2021 compared to the current capability of 1.5 billion cubic meters (bcm).

Ukrainian President Volodymyr Zelensky met with Polish officials, and said: “I invite Poland to participate in investment projects to restore the infrastructure of Donbas.”

Read more

and more

Bulgaria

Moody’s credit ratings agency has affirmed Bulgaria’s credit rating at Baa2 and raised the outlook from stable to positive, citing Bulgaria’s stronger fiscal position and improved economic growth prospects.

Sustained positive fiscal and economic trends, as well as further progress with reforms and Eurozone accession could lead to a credit rating upgrade, Moody’s said. The positive outlook made a downgrade unlikely in the next 12 to 18 months, but the outlook could be changed to stable should Bulgaria’s macroeconomic and fiscal policy credibility deteriorate, the credit ratings agency said.

Read more

Romania

The global group Liberty Steel, an owner of a steel mill Sidex (formerly known as ArcellorMittal Galati), wants to invest EUR200m, according to Bloomberg.

Liberty Steel general manager Jon Bolton said that, over the next five years, the group plans to invest over EUR400m in the seven steel plants it acquired from ArcelorMittal, in order to maintain the capabilities, expand the product range, and create more high quality products.

Read more

What’s up in indexes

BET (of Bucharest) decreased from 9250.91 index points Thursday, August 29th to 9235.72 index points Friday, August 30th. It’s down 0.06 per cent d/d and up 10.7 per cent y/y.

BUX (of Budapest) increased from 39264.00 index points Thursday, August 29th to 39794.12 index points Friday, August 30th. It’s up 1.35 per cent d/d and up 6.90 per cent y/y.

OMXR (of Riga) increased from 1020.89 index points Thursday, August 29th to 1021.84 index points Friday, August 30th. It’s up 0.09 per cent d/d and up 4.09 per cent y/y.

OMXT (of Tallinn) increased from 1244.68 index points Thursday, August 29th to 1246.45 index points Friday, August 30th. It’s up 0.14 per cent d/d and up 1.67 per cent y/y.

OMXV (of Vilnius) increased from 687.31 index points 685.38 index points Thursday, August 29th to 688.44 index points Friday, August 30th. It’s up 0.45 per cent d/d and down 1.88 per cent y/y.

PX (of Prague) increased from 1031.02 index points Thursday, August 29th to 1037.27 index points Friday, August 30th. It’s up 0.61 per cent d/d and down 3.79 per cent y/y.

RTS (of Moscow) increased from 1284.94 index points Thursday, August 29th to 1293.32 index points Friday, August 30th. It’s up 0.65 per cent d/d and up 20.2 per cent y/y.

SAX (of Bratislava) closed at 343.69 index points Friday, August 30th. It’s the same result as Thursday’s. It’s 0 per cent change d/d and down 4.42 per cent y/y.

SOFIX (of Sofia) decreased from 570.50 index points Thursday, August 29th to 567.45 index points Friday, August 30th. It’s down 0.54 per cent d/d and down 10.49 per cent y/y.

UX (of Kyiv) increased from 1517.13 index points Thursday, August 29th to 1537.71 index points Friday, August 30th. It’s up 1.36 per cent d/d and down 5.85 per cent y/y.

WIG20 (of Warsaw) increased from 2069.33 index points Thursday, August 29th to 2135.25 index points Friday, August 30th. It’s up 3.19 per cent d/d and down 9.29 per cent y/y.

Share this post

TOP