HK-listed Mengniu Dairy at over 3-week high, France's Danone to sell stake

China Mengniu Dairy

13/05/2021 06:45

** Shares of dairy products maker China Mengniu Dairy Co
 2319.HK  rise as much as 5.4% to HK$44.15, highest since April
21
    ** Shares, last up 3.8%, on track for their best day since
April 8; most actively traded stock by turnover and the biggest
percentage gainer in Hang Seng China enterprises index  .HSCE  
    ** French food group Danone  DANO.PA , under pressure from
investment funds over its shareholder returns, on Wednesday said
it was selling a potential $2 bln stake in China Mengniu
 urn:newsml:reuters.com:*:nL1N2MZ0MI
    ** Brokerage Daiwa Capital reiterates "buy" call on China
Mengniu, saying the divestment is already expected by the market
and the share price overhang concerning a further sell-off would
be removed if Danone can completely sell its 9.8% Mengniu stake
in one go 
    ** The Hong Kong composite Industry Index tracking consumer
staples  .HSCICS  gains 0.2%
    ** The Hang Seng China enterprises index  .HSCE  falls 1.6%,
and the benchmark index  .HSI  slips 1.3%
    ** As of last close, the stock had fallen 10.5% this year 

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)