U.S. officials in Kyiv allegedly claimed on Tuesday, November 25, that Ukraine had agreed to the core elements of the latest peace deal brokered by President Donald Trump.
While Ukraine is yet to issue an official statement, CBS News reported that only “minor details” remain to be worked out. The news came only hours after Ukraine’s national security adviser, Rustem Umerov, stated that the Ukrainian administration had “reached a common understanding” with the White House.
While the proposal will likely remain in flux, the stock market is likely to react to the news swiftly. The energy and defense sectors, in particular, began sliding on Monday already, when early signs of peace-talk advancements started to circulate. For instance, the Stoxx Europe Aerospace and Defense index closed 2.2% lower.
Nonetheless, not all markets are up for a pullback, especially if reconstruction efforts begin in earnest. Here are two stocks to benefit from the Ukraine peace deal in the following weeks.
1. ArcelorMittal
ArcelorMittal (NYSE: MT), a Luxembourg-based steel manufacturing company, has delivered a year-to-date (YTD) return of 82%, its stock surging to a new 52-week high of on Tuesday and trading at $41.75 at press time.
The rally has lifted the company’s market cap to $31.76 billion, and the stock is further supported by a 12.43 P/E ratio and a 1.15% dividend yield, both of which point to strong investor confidence.
In addition, ArcelorMittal benefits from geographic diversity, and while it was forced to halt its production operations in Ukraine at the beginning of the war, the situation could soon change. Namely, large-scale reconstruction is expected to spark massive demand for steel and industrial material, positioning ArcelorMittal as one of the major potential beneficiaries, given its European footprint.
Still, renovations are not likely to happen overnight, and logistical challenges could slow down the progress. In other words, the company’s role, if any, will depend largely on whether it decides to renew and step up its operations in Eastern Europe.
2. Raiffeisen
Raiffeisen (OTCMKTS: RAIFY) is one of the biggest lenders in Russia not subject to sanctions, which means it plays a critical role in trade payments with Moscow, including gas exports. What’s more, the bank’s stock has witnessed impressive growth in 2025, surging over 100% YTD and trading at $10.06 at the time of writing.
While the future of the company and its presence in the post-war period is hard to determine, it could potentially emerge as a more complex beneficiary of the peace deal. However, it bears mentioning that the bank has been under intense scrutiny from Western regulators, and a full exit from the Russian market is still not ruled out.
A peace agreement could thus reduce political pressure and potentially reopen pathways for some fresh deals not hindered by strict capital controls. For now, though, the stock remains a riskier play, one with meaningful upside, but equally significant unresolved risks.
Featured image via Shutterstock
