Naked Markets

JSW's stock has overestimated by over 6 percent.  The WIG20 index continues its decline Thursday’s listing on the WSE ended with declines in the main indices. With a turnover of PLN 661m, the WIG20 lost 1.6% and stopped at 1,654.3 points. On that day, the weakest Polish blue chips were entities such as: JSW (-6.1%), KGHM (-4.8%) and Lotos (-4.1%). On the other extreme, there are companies such as Allegro (+ 1.8%), Asseco PL (+ 1.7%) and Pepco (+ 1.4%). Also mWIG40 and sWIG80 ended yesterday’s session with declines, dropping 1.5% / 0.2% respectively. The IT sector was the best in the sector (+ 1.0%), while similarly as on Wednesday, mining and chemicals showed significant declines – indices lost 5.0% / 4.5% respectively.

The WSE became a part of the European session

The stock of K2 Holding stood out on the broad market, gaining 15.6% after information about plans to pay a record dividend (PLN 19.5m, ie PLN 8.4 per share). The yields of Polish treasury bonds continued to decline, currently the yield on the domestic 10Y bond is at the level of 6.9% (on Monday it exceeded 8%).

Red was the dominant color in Europe, the DAX fell 1.8%, the CAC40 lost 0.6% and the FTSE100 ended with a 1.0% discount. Investors are concerned about the outlook for global GDP growth.

Yesterday’s session on Wall Street, despite disappointing data from the US economy, ended with increases in the main indices. That day, the Nasdaq finished up 1.6%, the S & P500 gained 1.0% and the Dow Jones grew 0.6%. Oil companies turned out to be the worst sector during Thursday’s trading, as they fell in line with the decline in global crude oil markets – currently a barrel of WTI crude oil is USD 104.4.

In Asia, the Shanghai Composite Index ends up 0.4% positive and the Nikkei is up 1.1%. From the very morning the DAX and US index futures are glowing green, which may herald a positive opening on the WSE. Krzysztof Tkocz

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