Ukrainian Agro Stocks Show Divergent Trends
Among Ukrainian agricultural companies stocks, performance varied last week. Kernel (KER) shares surged 13% to PLN 15.30, boosting its market capitalization to $1.1 billion.
Meanwhile, IMC (IMC) shares saw a moderate correction of 0.8% to PLN 18.20, with a market capitalization of $156 million, following a sharp rally since the start of the year.
London-listed Ukrainian poultry producer MHP (MHPC) edged up by 0.8% to close at $5.06 per share (MCap of $542 million).
Iron ore miner Ferrexpo (FXPO) jumped by 18% to GBP 1.08 as the benchmark iron ore prices demonstrated a firm recovery by 3.2% to $101 per tonne.
The Hryvnia Sees Gains Amid Broad Dollar Retreat
EUR/USD rose back to 1.03 heading into this week on a notable upswing, however the pair remains buried deep into the bearish side of the charts. The pair briefly slumped below 1.0200 earlier this month, chalking in a fresh 2.5-year low.
The hryvnia gained by 0.7% to 42.65 UAH/USD on the cash market. The interbank exchange rate is currently stands at 42.20 UAH/USD.
Global Markets Rally on Positive U.S. Inflation Data
On global exchanges, optimism prevailed as traders welcomed favorable U.S. inflation data, interpreting it as a sign that interest rate cuts might be on the horizon. As a result, the S&P 500 index gained a robust 2.9%, nearing the 6,000-point mark once again.
POLITICS AND ECONOMICS
- Ukraine’s GDP Recovers by 3.6% YoY in 2024
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