Stocks Test Highs
Amid Volatility
Equities of
Ukrainian agro companies showed mixed performance. Shares of IMC and Milkiland
(MLK) lost 3.6% and 3.4% respectively, while Kernel (KER) climbed 3.5% to PLN
19.70, surpassing the PLN 19.45 offer price under the company’s sell-out
procedure.
London-listed
Ukrainian poultry maker MHP (MHPC) gained 5.9% to close at USD 5.78 per share
(MCap of USD 619mn). The company said that it had completed the acquisition of
92% of Spanish poultry and pork producer Grupo UVESA, with the European
Commission having given the green light to the deal.
Ukraine’s largest
poultry processor submitted a binding offer to acquire a minimum stake of
50.01% of UVESA back in January. According to Euromeatnews, as a result of the
closed transaction, MHP’s stake exceeds 92%, handing it control of the
fundamental operations and management of UVESA. The deal strengthens MHP’s
expansion across European and Middle Eastern markets and marks a significant
strategic investment in Spain’s food production sector. MHP is now among the
top 10 chicken producers globally according to WattPoultry.
US equity markets
entered a turbulent phase as traders reacted sharply to negative macroeconomic
data. July producer prices (PPI) came in above expectations, fueling
volatility, though optimism for a fresh cycle of Federal Reserve easing
continues to propel benchmarks toward record highs. The S&P 500 advanced
1.0% over five sessions.
Apple rose 1.3%
after reports it is working on a robotic home device resembling an iPad on a
flexible stand. The gadget, featuring a 7-inch display, would integrate
functions of an iPad, HomePod and Apple TV, serving as a hub for Apple’s
smart-home ecosystem.
Palantir underperformed, sliding 5.2%.
POLITICS AND ECONOMICS
- Zelenskiy Faces Tough Choices on Donbas at White House Meeting
- Ukraine’s Current-Account Gap Widens to USD 14.9bn in First Half
full report
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