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Prosus falls on stock market to distance itself from Russian investment

Tech investor Prosus was lowered on the Amsterdam stock exchange on Friday. The company announced that it wants to distance itself from the Russian car sales platform Avito, which it owns. Investors also kept a close eye on developments surrounding the war in Ukraine. The AEX index closed in the plus.

Prosus (minus 2.6 percent) is working on the “decoupling” of Avito, CEO Bob van Dijk has said. Analysts previously estimated the value of the Russian company at $ 6 billion. Prosus also expects to write off the value of its 27 percent stake in social media platform VKontakte worth $769 million. Chinese internet group Tencent, in which Prosus has a large stake, previously fell 2.6 percent in Hong Kong. Credit Suisse also lowered its price target for Prosus.

The main index on Beursplein 5 closed 0.4 percent higher at 723.90 points. The MidKap also climbed 0.4 percent to 1047.01 points. Paris fell a fraction and London climbed 0.2 percent. The DAX in Frankfurt gained 0.3 percent despite a sharp drop in German business confidence due to the war in Ukraine.

Retail real estate group Unibail-Rodamco-Westfield was the biggest winner in the AEX with a profit of 4.3 percent. Steel group ArcelorMittal rose 3.2 percent. Chip machine maker ASML climbed 0.7 percent after strong price gains at the major US chip makers on Thursday. Lighting company Signify closed the row in the AEX with a minus of 3.7 percent.

Eurocommercial Properties rose 5.8 percent. The investor in retail property saw the result fall slightly in the past year. Rental income also declined somewhat. The dividend, on the other hand, was significantly increased. Pharmacy company Fagron did even better in the MidKap, climbing 7.4 percent thanks to a buy recommendation from Kepler Cheuvreux.

The euro was worth $1.0983, against $1.0985 a day earlier. A barrel of US oil became 1.2 percent more expensive at $113.60. Brent oil cost 1.2 percent more at $120.45 a barrel.



Prosus falls on stock market to distance itself from Russian investment
Source link Prosus falls on stock market to distance itself from Russian investment

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