Market overview

IMC Rebounds, Kyivstar Advances as Ukrainian Stocks Gain.

The week was generally positive for Ukrainian agricultural equities. Shares of IMC jumped 4.2% to PLN 36.3, recovering part of the sharp decline recorded earlier this month.

Astarta (AST) shares edged up 0.5% to PLN 46.7 and remain below the level at which the company’s controlling shareholder was purchasing additional shares on the market late last year. In our view, the stock’s weak performance may partly reflect continued pressure in global sugar markets. Benchmark sugar prices have fallen 11% over the past 12 months.

Shares of Kyivstar (KYIV), which have traded on the New York Stock Exchange since August last year, gained 3.9% over the week to USD 14.1. The company’s market capitalization currently stands at approximately USD 3.27bn.

On the global market, US stock futures hit pause on Monday as investors assessed signs of progress in US-Iran peace talks and prepared for a pivotal inflation report later this week.

The US and Iran made “encouraging progress” in peace talks in Switzerland, mediators said on Monday, and have agreed on a roadmap to sealing a final deal within 60 days. That eased some nerves prompted by President Trump’s threat of strikes on Iran if Tehran doesn’t rein in Hezbollah’s actions against Israel.