Although a week on the WSE did not bring a breakthrough, he showed that in the following weeks the accents in WIG20 may break down slightly differently, where the Orlen course gets more and more, and the fondness for banks looks positive. Friday on the WSE ended in correlation with global stock exchanges and market flaut.
It was a quiet day on the stock exchanges. It is true that the Asian session brought the shifts of the base indexes within 1 percent. and HangSeng discount by 1.09 percent, but in Europe, changes in most cases of the most important indexes (DAX, CAC40, FTSE100, Eurostoxx50) markets closed from 0.5 percent. (in one side or the other). It was similar at Wall Street, where S&PC, Nasdaq and DJI at 17.00 they gained about 0.2 percent
Indexes on the WSE also referred to these moods, although the first part of the day brought an attempt to push WIG20 by about 1 percent. In the following hours, the index made up for losses, mainly due to the raising of banks' courses. Next to the Blue Chip index was given to the Orlen course, about which more in the program “At noon”.
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Finally, on Friday at the WIG20 Warsaw Stock Exchange it fell by 0.18 percent, and throughout the week 0.04 percent fell. On Friday, the WIG wide market index lost 0.13 percent at the session. up to 108 552.82 points, and in the whole week gained 0.11 percent
However, MWIG40 lost 0.08 percent on Friday up to 8 101.42 points, when it fell by 0.20 percent throughout the week. The best on Friday and the whole week turned out to be SWIG80, which gained 0.28 percent. at the session and 1.21 percent In the whole week, which ended at 29 467.35 points – at most in history. The turnover on Friday was only PLN 1.41 billion, of which WIG20 companies were responsible for nearly PLN 1.29 billion.
“After a strong growth from last Friday, WIG20 consolidates throughout the week. Today's session does not differ from this scheme. From a technical point of view, there is no investment signals, but we are in a fairly important place, just below the upper limit of the long -term growth channel. If the index went up, this channel would be overcome and this would be overcome with the continuation of the upward trend.” Smoliński, BM PKO BP analyst.
According to the analyst, for WIG20, the level of long -term reduction of the growth canal is around 2,980 points. “If this long -term reduction of the growth channel is overcome at WIG20, then the growths will be maintained in the horizon and even months. Then levels above 3,000 points are at stake,” said the expert.
“WIG Banks' behavior in this picture, which he has strongly increased yesterday, pours some optimism. […] In connection with the market saying that there is no bull market without banks, this move is pleased. It may be that the whole market will follow the banking index, if it maintains a tendency at the next sessions ” – he added. At the end of the day on Friday WIG -Banki, although it lost for most of the day, the session ended with an increase of 0.32 percent – also in history. In WIG20, mBank shares gained from this industry (1.98 percent), Pekao, 0.3, 0.3 percent), Alior (0.29 percent) and within 0.1 percent of PKO and Santander, i.e. all banks in the portfolio.
“On the other hand, pessimistically, you can look at Orlen, which after a very strong upward trend of several months, several sessions started correction a few sessions. Today's session also brings declines” – added Przemysław Smoliński. Orlen finished the fourth session in a row. Discount by 2.11 percent She made the exchange rate to be over 6.4 percent since the last summit of July 15. Throughout the week, the course lost 4.8 percent. And he passed the worst week from the beginning of April this year.
On Friday, information showed on the market that Morgan Stanley reduced the company's recommendation to “underweight”, and set the target price at PLN 83. At the end of the day, PLN 83.21 was paid for the share. Analysts write that Orlen's actions have become too expensive, but the market is discussed on the pressure of Orlen from the State Treasury, to get involved in capital in the financial problems of Azoty.
Orlen was the weakest company on Friday in WIG20. The KGHM exchange rate (-1.38 percent), Budimex (-1.21 percent) and Kęty (-1.01 percent) and Orange (-0.95 percent) were also under greater pressure. Within 0.5 percent Raven, PGE, Allegro, CD Projekt, LPP and CCC. The PZU exchange rate (0.0 %) was neutral. The biggest increase in large companies passed the Dino course (2.42 percent).
Michał Kubicki
