The stock market week at the WSE ended with a clear withdrawal. The declines were a derivative of risk growth to external markets caused by the Israelite attack on Iranian nuclear goals. Events have affected the prices of raw materials, especially oil. The response to the stock exchanges was more moderate. Locally, attention was focused on the discount of PGE shares, translated by the closer familiarization with the company's strategy for the next 10 years.
On Friday, WIG20 lost 1.73 percent, and gained 0.3 percent throughout the week. WIG, in turn, fell by 1.52 percent at the session, to 99,364.86 points, and in the whole week it rose only by 0.08 percent. However, MWIG40 lost 1.91 percent on Friday up to 7,538.24 points, when in the whole week he fell equally by 1 percent. SWIG80 gave 0.41 percent at the session and 0.9 percent In the whole week, which ended at 28 095.02 points The turnover on Friday amounted to nearly PLN 1.95 billion, of which WIG20 companies were responsible for over PLN 1.67 billion.
Financial markets reacted to an Israeli operation to destroy Iranian nuclear installations. Investors were looking for safe marina, raising gold or Swiss franc. The escalation of tensions in the Middle East, however, did not lead to panic on the stock markets, where moderate withdrawals were observed, although the scale of Israel's attack on Iran was unprecedented, and the announced further military actions along with the retaliating reaction show that the conflict can escalate in an unknown direction. The risk of a full -glass war in the oil -bearing areas of the Persian Gulf was most effective on oil prices, which sometimes increased by a dozen or so percent.
The session in Warsaw began with the descent of WIG20 by about 1.7 percent. But in the first hour the discount was heavily reduced. In the afternoon, however, the index lost over 2 percent. By violating the level of 2,700 points His defense was the task of bulls until the end of the session, which was done, and thus allowed to break a series of three inheritance weeks in a row. In the background of Friday events, there was a publication of final inflation data for May, which amounted to 4 percent.
“In the face of geopolitical tensions, markets are increasingly valuing stagflation scenarios – a combination of the risk of raw material prices with a potential slowdown in economic growth,” wrote experts from Oanda TMS Broker in a commentary to Friday events. “In a short term, the situation may force caution from central banks, especially if price pressure from the energy market begins to translate into inflationary data,” they added. The closest decisions of the banker next week, about which more in the article “A long weekend not only in Poland. Attention to the Fed and Boj”.
Although the reaction of stock markets did not reveal panic, it must be said that the sentiment was weak, and the main indexes from Europe or the US were under the line. At the end of trade in Warsaw, Dax lost 1.4 percent. CAC40 reduced by 1.3 percent, and the FTSE100 fell by 0.5 percent. At Wall Street S&PC was retreating by about 1 percent, and Nasdaq lost over 1.1 percent. Preliminary data from the examination of consumer moods of the Michigan University brought a positive surprise (the indicator increased to 60.5 points against the expected 53.6 points). In such an environment, Friday on the WSE passed on the third day of WIG20 declines, which started a week on Monday and Tuesday.
The index of the largest companies was also burdened with a 10.57 % PGE disc. The declines were explained by the company's strategy reception for the next 10 years. Although its presentation took place on Thursday, the content of the document went to the hands of investors about an hour before the end of the session, so the right reaction after loading into its (strategy) details came on Friday. As they explained the analysts of negative surprise, it could have concerned the expected rate of return on investment and losses from energy production from conventional sources and not very precise dividend policy.
He also clearly lost the PZU exchange rate (-3.44 percent) after presenting the assumptions of the company's merger with Pekao (-1.81 percent). In last week's commentary for Bankier.pl, Marcin Materna from BM Millennium wrote that for minority shareholders of both companies, there is a risk of a giant that will not be able to react so efficiently to market changes as individual companies alone, but he added that this is a long -term risk.
The entire financial sector was under pressure on Friday, and WIG-Banki lost 1.78 percent. Actions of large banks, which are the entrance and output gate for foreign capital, investing on the WSE were cheaper at considerable revolutions, revealing the reduction of exposure to risky assets. PZU fell at over PLN 209 million in turnover, Pekao at PLN 160 million, the PKO exchange rate donated 1.68 percent, at PLN 178 million.
A lot was also traded at Orlen shares (PLN 203 million), whose exchange rate lost 0.36 percent. Over PLN 100 million of exchange was also calculated in the case of Allegro (-1.95 percent) and the mentioned LPP (PLN 188 million). There were only project CDs (0.86 %) Oraas of the Żabka group (0.23 percent).
The 11 bit studios course (4.4 percent) came from the wide market, who began to rise from around 14:00, when the premiere of “The Alters” took place. “The first 2 hours from the premiere are brought for now promising statistics. Peak players are still growing and already pierced 3.8 thousand players. It is worth remembering that for games the most important is a post -remedy weekend, during which the most players can test the new game,” commented DM XTB analysts in the commentary. In addition, the game collects positive assessments of critics and currently its aggregate rating on Metacritic is 85 points.
