HK-listed China Mengniu set for best day in nearly a year on H1 results beat

China Mengniu Dairy

26/08/2021 06:46

** Shares of China Mengniu Dairy Co Ltd 2319.HK> rise as
much as 7.8% to HK$47.20, biggest intraday pct gain since Aug.
28, 2020
    ** Stock hit the highest since July 2, extending gains for
the fourth consecutive session
    ** Stock top gainer on the Hang Seng Commerce & Industry
Index  .HSNC  and the second biggest gainer on the Hang Seng
China Enterprises Index  .HSCE 
    ** Chinese dairy products maker said its first-half profit
jumped 143.2% to 2.95 bln yuan ($455.1 mln) with revenue rising
22.3% to 45.91 bln yuan, thanks to consumption upgrade trend
amid health awareness post-epidemic  urn:newsml:reuters.com:*:nFWN2PW0QE
    ** Citi maintains "buy" rating on the stock saying Mengniu's
H1 results beat, while the dairy group and China Resaeouces Beer
 0291.HK  remain its top buys in China consumer staples in the
second-half of 2021 
    ** Daiwa maintians "buy" on the stock saying H1 results beat
expectation on cost savings
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
falls 1.7%, and the Hong Kong composite Industry Index tracking
consumer staples  .HSCICS  eases 0.1%
    ** The Hang Seng China Enterprises Index  .HSCE  drops 1.6%
and the benchmark index  .HSI  slides 1.3%
    ** Stock down 6.4% this year as of last close 


($1 = 6.4819 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))