The beginning of the week saw a rebound on the Warsaw Stock Exchange after a strong sell-off at the end of last week, although the very beginning of the session did not herald a positive development of events.
Initially, negative impulses from other stock exchanges heralded a continuation of the sell-off. However, it quickly turned out that there were not too many people willing to get rid of Polish shares, and as a result, buyers quickly took the floor before noon, apparently attracted by the overvalued stock. Thanks to their mobilization, WIG20 finished over 1.9 percent. in the black, returning after a short break above the level of 2000 points.
The domestic indices moved in line with the trend prevailing on the other European stock markets, where buyers took the lead quite quickly. The green color appeared on both Western European stock exchanges and markets in our region. It is worth noting, however, that it was the day of the Warsaw Stock Exchange, whose indices left almost all European competition behind. Only the stock exchange in Istanbul turned out to be a bit better.
The largest companies included in WIG20 returned to favor and almost completely improved their quotations. The stocks of raw materials companies JSW (18.8% up!) And KGHM enjoyed great interest, which could be related to the overall improvement in the global attitude investors to the commodity companies sector, which was supported by optimistic data on the growth of Chinese GDP in the fourth quarter. It is also worth noting that Włodzimierz Hereźniak was dismissed from the position of the president of the Jastrzębie company. Despite the unpromising start of the session, the owners of energy companies’ shares also had reasons to be satisfied, as in just one session with a large margin they recovered from the last week’s sell-off. Investors were encouraged by reports that the plan for the separation of coal assets is starting to take shape more and more. Stocks of fuel companies and banks have also been targeted. Only CD Projekt’s stocks did not benefit from the improvement in moods, finishing below the line.
Positive moods also dominated trade in the small and medium-sized enterprises segment, where more expensive companies had a clear advantage. Mercator Medical was among the few negative exceptions. The manufacturer of medical gloves boasted record results for the fourth quarter, yet it did not meet the high expectations of investors.
Source: https://www.rp.pl by www.rp.pl.
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