GEA: Stock on the Rise Thanks to Milk Price Forecast
Source: The DairyNews
The GEA Group's stock experienced a positive start to the new trading week on Monday, Dairynews.today writes.
The reason behind this is an increased milk price forecast from a significant customer, likely boosting investment readiness in the sector and leading to more orders for GEA, according to market participants. Finanztreff.de examines the details.
The rise in GEA stock was prompted by the announcement from the New Zealand dairy giant and GEA customer, Fonterra, regarding an upward revision of the milk price forecast for the 2023/24 season. This indicates favorable global market conditions for milk and could suggest an increasing willingness to invest in the dairy industry—a positive trend for GEA.
Impact on GEA Stock
The positive outlook is reflected in a 0.5 percent increase in the GEA stock, pushing the price to 37.20 euros. Year-to-date, the stock has gained 0.2 percent, recovering from recent losses. Nevertheless, the stock price has fallen by over nine percent on a 52-week basis (with material from dpa-AFX).
The rise in GEA stock was prompted by the announcement from the New Zealand dairy giant and GEA customer, Fonterra, regarding an upward revision of the milk price forecast for the 2023/24 season. This indicates favorable global market conditions for milk and could suggest an increasing willingness to invest in the dairy industry—a positive trend for GEA.
Impact on GEA Stock
The positive outlook is reflected in a 0.5 percent increase in the GEA stock, pushing the price to 37.20 euros. Year-to-date, the stock has gained 0.2 percent, recovering from recent losses. Nevertheless, the stock price has fallen by over nine percent on a 52-week basis (with material from dpa-AFX).
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