Ukrainian Stocks
Listed in Europe Close Mixed
Iron ore exporter
Ferrexpo (FXPO) dropped by 3.6% to GBp 46.8 (MCap of USD 378mn) as the company
reported that its production volume fell by 40% in 2Q2025 compared to 1Q2025.
Amid suspended VAT refunds and tighter liquidity, Ferrexpo cut operations to a
single pelletizing line and trimmed output of high-grade concentrate.
Among major
Ukrainian agro stocks, Kernel (KER) rose by 2.1% to PLN 17.54 (MCap of USD
1.41bn) while Astarta (AST) shed by 3.6% to PLN 52.90 (MCap of USD 354mn).
MHP’s (MHPC)
equity appears stuck in a holding pattern. The shares have hovered at USD 5.25
in recent weeks, giving the company a market capitalization of about USD 560mn.
Globally, equity
markets continued their upward trajectory, with the S&P 500 hitting fresh
all-time highs. Nvidia became the world’s first company to surpass a USD 4
trillion market capitalization, followed by Microsoft at USD 3.7 trillion and
Apple at USD 3.3 trillion.
Despite the rally,
many fundamental indicators suggest equity valuations are overstretched. Signs
of a developing bubble are emerging, though the timing of any correction
remains uncertain. For now, the bull run may continue, fueled by investor expectations
of a potential Fed easing cycle in 2026.
We suggest a
cautious approach, with potential for both upward and downward movements in the
market. Monitoring economic data and geopolitical developments will be crucial
for short-term investment decisions.
Looking forward, volatility may return with the start of Q2 earnings
season and ahead of the next US tariff deadline in mid-August.
POLITICS AND ECONOMICS
- Ukraine Inflation Slows to 14.3% YoY in June From 15.9% YoY in May
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