The return to declines on WIG20 after two days in the plus took place with wide declines of the financial sector, led by the PZU-PEKAO duo. The courses were shaken by the Ministry of Finance and Economy, which asked to suspend work on a bill enabling the merger of both companies. A Pepco course stood out from the weak market, which was at most for over a year after the results.
On the stock markets Thursday brought continuations of declines. In Asia, indexes from continental china gained in Asia, Hangseng from Hong Kong was on the downside, as well as benchmarks from South Korea or India. Japanese nikkei225 finished the plus. In Europe, the red red dominated by 0.7 percent, CAC40 lost 0.4 percent, FTSE100 reduced by 0.3 percent.
Investors evaluated the comments of central bankers from the FED from recent days. On Tuesday, the head of Fed Jerome Powell pointed out that the US central bank has a difficult task ahead of it, trying to balance the risk for both inflation prospects and the labor market. Powell added that actions on American stock exchanges can be overvalued. When the session in Warsaw ended, the Indexes for Wall Street also lost, let's add after two days of cosmetic declines.
On the macro section Thursday brought the expected quarterly decision of the Central Bank of Switzerland, which, however, did not decide to serve negative interest rates. In the afternoon, another revision of US GDP data for the second quarter came, which, though surprised positively (the analyzed increase in 3.8 percent yaws against the previously shown 3.3 percent) concerned an almost ancient past, after all, the third quarter ends. Investors are waiting for a lot of “fresher” inflation data from the USA. On Friday, PCE inflation will be published, i.e. the Fed preferred measures for the increase in prices in the economy.
Poor moods determined the discount on the WSE, where WIG20 lost 1.1 percent. and gave the level 2,800 points. WIG was lower by 0.9 percent In turn, MWIG40 lost 0.48 percent, and the SWIG80 turned out to be the most powerful with 0.3 percent. The turnover reached PLN 2.16 billion in the wide market, of which PLN 1.97 billion concerned companies from WIG20. The volume of exchanges shows that trade on the WSE was clearly interested in a larger international capital.
“The market is suspended, perhaps an impulse will appear at the beginning of October with the estimates or the results of companies in the United States. On the one hand, increases or multipliers seem advanced in the United States, and on the other hand it is to expect that some companies will show an improvement in profitability and results in the context of Ai. The question is whether there is no bubble here, the sentences are divided,” said PAP Sobsław. ” Kozłowski, director of the Noble Securities Analysis and Advisory Department.
“I would pay attention to the behavior of the dollar, to the DXY index and EUR/USD, and to the behavior of gold, which is at historical peaks. As well as whether American indexes actually enter the period of stabilization, maybe a little longer. And ultimately, whether it turns out that European banks are in consolidation, or whether it is a stop before the continuation of growth. He added.
Larger trade has the WSE took place on several companies. PZU shares (-4.35 percent) were most powerful and immediately behind them Pekao (-2.74 percent), with a total of nearly PLN 559 million in trading. Focusing the attention of investors on these two companies can be combined with incomprehensible communication of the Ministry of Finance and Economy, which asked to suspend work in the permanent committee of the Council of Ministers on the bill enabling the merger of PZU and Pekao. The clarification that it was technical issues in the draft law enabling connection did not help, which was informed by PAP Biznes, the head of the ministry Andrzej Domański. Headers that the connection of PZU with Pekao is suspended went into the world.
“Some time ago, the Minister of State Asset has signaled that he was expecting an alternative to this scenario, there was now a signal that maybe other solutions are expected. A new president was appointed in PZU, so we will probably see some alternative in the near future,” said Sobiesław Kozłowski.
PKO BP Bank (-1.44 percent) were also traded the most, where the turnover exceeded PLN 333.8 million. The weakness of the banking sector was overwhelming, because the strong decreases also affected Alior's exchange rate (-2.25 percent) and mBank (-2.82 percent) and in a smaller santander dimension (-0.66 percent). The entire WIG-Banki fell on Thursday by 1.74 percent. And he was the weakest industry index on the WSE.
As noted by Sobiesław Kozłowski, banks listed on the WSE behave less well against the background of European banks. “Since August, banks behave less well. WIG banks have dropped almost 18 percent from the summit of intraraday from August 13, which is not much below 20 percent is quite a lot” – he added.
“Since August, banks behave less well. WIG banks have dropped almost 18 percent from the summit of intraraday from August 13, which is not much below 20 percent is quite a lot” – he added.
It is worth mentioning a slight correction on the KGHM course (-0.52 percent), which took place after over 7 % Increase on Wednesday in response to the increases of copper prices after information that the disaster at the copper mine in Indonesia will suspend the work of this large manufacturer until mid -2026. On Thursday, copper prices discharged around 1 percent.
There were a total of 16 companies from WIG20 under the line, and only four companies were increased, with three of them increased by no more than 0.8 percent. It was the courses of Żabka, Orlen and Orange. The real star of the session was the Pepco course (13.77 percent), which he scored at PLN 190.5 million in a two -digit increase. The price of shares soared from May 2024 after publication of preliminary operational results for the financial year and forecasts for the next ones that investors liked. She also informed that she would start the second stage of buying shares up to EUR 50 million.
It is worth mentioning from the companies from the wide market that Grupa Azoty (4.15 percent) provided results in accordance with previous estimates, but investors could convince the information that talks on the potential transaction regarding the acquisition of all or part of the GA Polyolefins shares from GA Police and Grupa Azoty would be undertaken more to buy shares. Grupa Azoty assumes that it will start talking to Orlen within a dozen or so days.
The sale on PCF Group shares (-19 percent) is underway. On Thursday, the SPW was collected by the August issue shares, which were sold for PLN 3 each. The company's quotations have been discounted this week by 36 percent. with each day they deepen the historic bottom. On Thursday, “Lost Rift” has a premiere on the Steam platform.
Michał Kubicki
