Orlen turns back from the bull market and cheaper with pus. WIG20 with the brakes ends the month again in the plus
After determining this year's maximum, the correction to Orlen quickly accelerated to over 3 percent. With a WIG20 brake, however, he extended the side trend, and the prospects of the month returned to growth.
The script for the last session of the month and quarter was slightly different than the one implemented on Monday, which was distinguished by almost a day consolidation around the reference point. Tuesday brought a low opening of WIG20 and an attempt to make up for losses, which eventually ended with a result only slightly worse than the day before, i.e. a cosmetic drop in the index.
The result itself extends the side trend on Polish blue chips, but the session pours some optimism, due to the clear defense of the level 2,800 points. The more that inflation in September (preliminary respect) turned out to be below forecasts, which could conquer the pressure on foot reductions and thus weighs down banks, and the processed higher tax on banks mentioned the prime minister, who before Tuesday's meeting of the government said that Polish banks are in very good condition, so they can pay higher taxes.
The result of the Tuesday session on the WSE was a decrease in WIG20 by 0.17 percent. WIG fell on Tuesday 0.15 percent In turn, MWIG40 gave only 0.07 percent, and SWIG80 fell by 0.15 percent. The turnover at the session amounted to PLN 1.93 billion, of which over PLN 1.63 billion concerned WIG20 companies.
It was the last September session, which ended with WIG20 growth by 1.2 percent. For the Blue Chip index, it was a return to increases after a decline in August, which interrupted a series of 8 growth months in a row, which has never happened in the history of the WSE so far. From the beginning of the year, WIG20 has gained 28.98 percent. The third quarter, however, ended with a decrease by 0.64 percent. WIG finished September by a 1.52 percent increase. mWIG40 lost 0.36 percent, and SWIG80 increased by 2.55 percent In the third quarter, the Income WIG gained 1.6 percent. (YTD 33.66 percent), mWIG40 fell by 2.78 percent (YTD 26.7 percent), and SWIG80 gained 4.08 percent (YTD 27.02 percent).
“I have the impression that since the FED decision from the previous week, activity has dropped on the FX market and on the joint markets. Today we have the last session of the month and quarter, and the activity is quite low for such a day. WIG20 is in consolidation, over the last one and a half of the week it moves in between 2,770 points and 2.860 points.” – Konrad Ryczko told PAP.
The analyst noted that the banks almost did not react to the statement of Prime Minister Donald Tusk regarding the higher CIT tax. “There was nothing new in this speech, the message was such that money is needed for the budget, so instead of taxing society, it is worth reaching for the banking sector. (…) However, the market assumes that there will be no special regression and that it will not be a temporary tax” – he added.
In fact, trade in banks' shares was not too nervous. WIG-Banki finished the 0.11 percent session. Under the line. Alior (-0.53 percent), Santander (-0.42 percent) fell on WIG20, but PKO (0.43 percent), Pekao (0.37 percent) were already in the plus, and mBank (0.0 percent) did not change.
The next session in the brake of the index was the Orlen course (1.99 percent), which on Monday, after establishing this year's summit and the highest course for over 4 years, changed the direction and has already corrected by over 3 percent. The decreases correlate with a stronger discount on the oil market, retreating after OPEC decisions and reports on the possible end of hostilities in the Gaza Strip, which could reduce the raw material's raw material by part of the so -called war bonus.
Allegro (-1.62 percent) shares were still under the line, which is experiencing corporate problems related to communication on the President-Employee line. The topic developed after the employees' returning to the offices. On the downside, he also finished the Kruk (-1.42 percent), PZU (-1.24 percent) and Pepco (-0.4 %) exchange rate.
After a strong increase in Monday, the KGHM course stabilized at a high level (0.00 percent). At the same time, one can talk about the relative strength of the value, which maintained increases despite the Tuesday withdrawal on the copper market within 1 percent.
The increases of this day in WIG20 were scored by 11 companies, which were best dealt with by the shares of the Żabka Group (2.49 percent) and Dino (1.89 percent). CD Project CDs (1.09 percent) continued to grow. The rest of the companies from WIG20 scored below 1 percent.
In the wide market, trade in JSW (-10.05 percent) caused the most emotion, which fell after half-year-old results and the management of the management that by March 2026 the company may be threatened by loss of liquidity. In addition, the auditor refused to issue an opinion for a semi -annual report, about which more in the article “Analysts evaluate JSW problems”.
Michał Kubicki
