Ukrainian Equities Deliver Mixed Performance
Quotes for major sunflower exporter Kernel (KER) fell 3.7% to PLN 17.30 last week, valuing the company at USD 1.35bn, amid ongoing concerns over a potential squeeze-out by the majority shareholder, who has already consolidated a 95% stake.
Meanwhile, shares of poultry producer MHP (MHPC) advanced 6.6% to USD 5.32, lifting its market cap to USD 570mn.
Astarta (AST) closed flat at PLN 50.70 (MCap of USD 328mn).
Globally, major equity benchmarks diverged. The S&P 500 fell 1.5%, while Japan’s Nikkei 225 gained 3.4% and Italy’s IT 40 surged 5.7% last week. Most European stocks advanced last week, driven by a combination of strong corporate earnings, easing bond yields, and optimism over potential tariff exemptions. Also, a boost came from the European Central Bank’s decision to cut interest rates for the seventh time in a last 12 months. The ECB’s benchmark rate was lowered by 25 basis points to 2.25% on Thursday (Apr 17). A further cut in June is still highly possible and only a major easing in trade tensions would persuade the ECB to pause.
In a sector breakdown, energy stocks outperformed, boosted by a 7.3% rally in Brent crude to USD 68 a barrel. However, oil prices remain in a broader downtrend, slipping 3.7% over the past month and down 22% year-on-year. The recent rebound in oil prices is attributed to fresh sanctions aimed at curbing Iranian oil exports, stoking fears of tighter global supply. The sanctions targeted Iran’s oil sector and a China-based refinery, intensifying pressure on Tehran amid ongoing nuclear tensions.
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