UP Index pushes down due  market sentiment

The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 4.37% last week. However, U.S. stocks represented by the S&P 500 (SPX) index gained 1.43%. A week before, the results were -4.05% for UPI and -4.55% for SPX.

The last two weeks were difficult for all stocks, and the UP Index was no exception: It lost eight percent. The first losing week came after three rising weeks, and a minor correction was awaited. However, the second decline was caused by external circumstances, so the rising trend is still the same.

New Fortress Energy (NASDAQ: NFE) lost about 25% in the past two weeks, followed by Capital Product Partners (NYSE: CPLP), which lost a slide of less than 20%. Excelerate Energy (NASDAQ: EE) declined by about 15%.

Japanese stocks suffered only minor losses, and some were able to rise. Kawasaki Kisen Kaisha (TSE: 9107) gained 2.1% two weeks before, and Mitsui O.S.K. Lines (TSE: 9104) gained 0.3% last week. These were the only gains in the previous two weeks.

Companies from the UP Index are pushed down by the market sentiment. The trend remains rising.

Marex Media