Ukrainian Agro Stocks Mixed as Technical Levels Dictate Moves
Shares of Ukrainian agricultural companies posted mixed performances, with traders focusing on individual support and resistance levels on price charts. Astarta (AST) failed to break through the key PLN 60.00 mark and ultimately retreated 7% to close at PLN 54.90, implying a market capitalization of about USD 370mn. Over the past 12 months, Astarta’s stock has fluctuated within a wide range between PLN 27.15 and PLN 64.20.
Meanwhile, shares of MHP (MHPC) advanced 3.5% to USD 5.28, valuing the poultry producer at around USD 565mn. The stock has traded between USD 3.50 and USD 7.10 over the past year.
U.S. Equities Extend Gains on Jobs Data
On Wall Street, the S&P 500 continued to notch fresh record highs, driven this time by stronger-than-expected labor market data. The U.S. unemployment rate edged down to 4.1% in June from 4.2% the prior month, fueling bullish sentiment.
Apple also provided a notable boost to the index, climbing 6.5% over the week after reporting an 8% increase in iPhone sales in China during the second quarter.
Still, equity valuations are increasingly looking stretched. J.P. Morgan expects the S&P 500 to end the year near the 6,000 level — roughly 4% below its current mark of 6,279 points. Among other key calls, the bank sees gold extending its rally toward USD 4,000 per ounce, about 10% above current levels, while oil prices are projected to decline about 10% to USD 56 per barrel by year-end. There appears to be a growing consensus on Wall Street that markets have largely priced in resilience to potential surprises from President Trump. Still, attention is now turning to the upcoming corporate earnings season, which is expected to be the next major catalyst for equity valuations.
POLITICS AND ECONOMICS
- Yermak Pushing to Install Svyridenko as PM as Hopes Fade for 2025 Elections
- Ukraine Raises USD 5.8bn From Domestic Bond Sales in First Half of 2025
full reportEavex Capital welcomes any questions or comments you may have regarding our research products.
Please contact us by email:
Dmitry Churin, Head of Research, [email protected]
