Kyivstar Shares Jump 6% as Wall
Street Rally Lifts Global Tech Stocks
A fresh wave of record highs on
Wall Street lifted Ukrainian telecom giant Kyivstar, whose shares joined the
global rally. The stock, listed on the New York Stock Exchange, surged 5.9% last week to USD 14.11, bringing the company’s market capitalization
to USD 3.2bn.
Performance among other Ukrainian
listings was mixed. MHP (MHPC) declined 1.4% to USD 5.64,
valuing the poultry producer at USD 604mn, while IMC (IMC) rebounded 5.7%
to PLN 25.80 (MCap of USD 248mn) after several weeks of consolidation.
Iron ore miner Ferrexpo (FXPO)
increased by 1.8% to GBp 57.2 (MCap of USD 452mn).
The FXPO stock is still down 49% since the start of the year.
Globally, equity markets posted
another week of gains. The MSCI Global Index added 0.5%, while the S&P 500
rose 0.7%. The long-anticipated Federal Reserve rate cut — a 25 basis-point
reduction to 4.00% — fueled optimism over fresh liquidity entering the
market. Nevertheless, eventually, a stock market correction, bear market,
or elevator-down move will occur again.
Among corporate standouts,
Amazon.com delivered one of the week’s strongest catalysts:
shares jumped nearly 10% after its AWS cloud division reported a 20% revenue
increase, reinforcing confidence in the company’s growth trajectory.
In contrast, Meta Platforms tumbled 11% as investors fretted over
ballooning AI-related spending and its impact on profitability.
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