The last paragraph of a recent Barron’s article about how concerns over Russia were “roiling” emerging markets had this to say about Eastern European emerging markets:
There are early signs that emerging Europe is taking a hit. Poland’s manufacturing PMI fell sharply from 50.3 in June to 49.4 in July, after peaking earlier this year at 55.9, and the iShares MSCI Poland Capped ETF (EPOL) has dropped more than 10% since its early June high. Nomura Securities last week lowered its gross-domestic-product forecast for Poland from 3.3% and 3.9% for this year and next year, to 2.8% and 3.1%, respectively, because of Russia’s import ban on fruits and vegetables. Poland has been a vocal supporter of Ukraine.
To read the whole article, Russia Roils Emerging Markets, go to the website of Barron’s.
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