COPENHAGEN (Reuters) - Shares in Danish brewer Carlsberg (CARLb.CO) jumped over 4 percent on Wednesday after reports that Ukraine and Russia had reached a ceasefire agreement in the eastern Ukraine.
“That is definitely why the Carlsberg shares are going up,” chief share trader at Danske Bank Mads Zink told Reuters. Reuters share price data also showed the jump after the news was announced by Ukrainian President Petro Poroshenko’s office.
The Danish brewer has a large exposure to Russia through its market leading Baltika brand and its shares has been under pressure this year due to the crisis there.
Reporting by Teis Jensen; editing by Sabina Zawadzki