Small changes, greater emotions. ORLEN for at most for over three years and at the head of WIG20
Although the changes in the main indexes on the WSE were minimal and extended the consolidation arrangement, the session in detail was more interesting than the result itself. The star of the session was the People Can Fly course, but the attention was also drawn to Orlen, whose course was at most for over three years, and capitalization is already nearly PLN 95 billion and is currently the largest of all WIG20 companies.
News from Donald Trump regarding the conflict in the Middle East caused a lot of concern on the markets on Tuesday's late afternoon. This caused the dollar to start and oil prices went up. Trump demanded “unconditional surrender!” Iran, which he fueled speculation about the possible involvement of the United States in conflict. The result was about 4proc, oil and a stronger dollar. He maintained this narrative on Wednesday, saying: “I can do it. I can not do it. Nobody knows” in response to the question about the use of US forces towards Iran. He also suggested that Iran wants to negotiate in the White House.
Under the influence of an increase in aversion to risk, the first part of Wednesday trade in stock markets was not the best, but as part of the observed restraint from exaggerated reaction. It is worth remembering that the attention of investors is already focused on the Wednesday decision of the Fed on interest rates, in the absence of sessions on Thursday on the WSE (Corpus Christi) and Wall Street (Wyzwolas Day), which will postpone the reaction to the transmission of the federal reserve only on Friday.
Poor quotations in Europe have been improved, after the Americans entered the game. On the stock exchanges in New York, the main indexes gained after the start of the Wednesday session, after information that Iran is ready for talks in the White House, as also the indexes of the Old Continent also responded. WIG20 reduced most of the losses, at times it was even recorded in the plus. He also confirmed the importance of level 2,700 points, over which consolidation is already underway.
At the end of the day WIG20 lost 0.23 percent, WIG was lower by 0.14 percent. In turn, MWIG40 gave only 0.03 percent, and SWIG80 fell by 0.18 percent. Turnover on the wide market amounted to PLN 1.56 billion, of which PLN 1.24 billion concerned companies from WIG20.
“Markets are trying to figure out the risk of great US military intervention. It is difficult to say exactly what investors think, but judging at the price of oil and currencies, they certainly include at least a certain risk at prices that something will go very badly there,” said Joseph Capurso, head of international and balanced economics at Commonwealth Bank of Australia.
Adam Crisafulli, founder of Vital Knowledge, said that stock markets are currently particularly susceptible to uncertainty. “Even before the conflict in the Middle East, the risk was high, and the valuations are at very elevated levels, so there is not much flexibility here,” he said.
In WIG20, most companies were listed flat. Changes by more than 1 percent Only PGE (2.4 1 percent) was completed in one side or the other side, and CD Projekt (1.46 percent) and Santander's falling courses (-1.56 percent) and CCC (-2.25 percent). In WIG20, he slightly increased Budimex (0.88 percent) after an announcement of a large contract with GAZ-SYSTEM. The wide market got to know the Noble Securities analysts report, who in the report to clients from June 13 increased the target price of the Pepco Group shares to PLN 21.90 from PLN 20.68, and the recommendation reduced the recommendation to “accumulate” with “buy”. On Wednesday, Pepco shares cost PLN 19.42 at a closing of the exchange rate by 0.54 percent.
During the session, the Orlen exchange rate gained up to PLN 82.60 for one share, which was the company's highest rate since January 2022. In the session finale, the share prices ended slightly under the line (-0.05 percent), at the level of PLN 81.58, which does not change the fact that the company is currently valued at over PLN 94.7 billion and is the most valuable company in WIG20. In addition, together with PGE is a company with this year's largest rate of return of over 70 percent.
From the wide market on Wednesday, the shares of other energy companies such as Tauron (4.86 percent) or Enea (2.32 percent) grew strongly. Tauron has gained 12 percent for seven previous sessions, and the Enea exchange rate at that time increased by almost 3 percent. According to analysts, it is difficult to find a clear cause of the recent increases in energy companies. They indicate that this can be behind the rebalancing of investor portfolios, as well as the expected alleviating of climate policy. And 7.64 percent He gained the ZEPAK course after BM Pekao analysts increased the company's target price to PLN 38.8 and upheld the “Buy” recommendation for them.
The real star of the session, however, was the PCF Group (37 percent) exchange rate, which reflected about PLN 5 per share from historical levels. However, the company did not provide new information in the ESPI channel. It is worth recalling that in March the course gained strongly during speculation about the contract with Sony and returning to old projects. At the beginning of June, PCF Group decided to suspend and suspend work on two games: Gemini and Bifrost and reduce the development team by over 60 people.
Mku
