2025-11-20 08:50, updated 2025-11-20 09:02
publication
2025-11-20 08:50
update
2025-11-20 09:02
Today, the global and domestic markets should fully discount yesterday's results of Nvidia, and the current quotations on Asian stock exchanges support the scenario of a return of bullish moods – write analysts from the BNP Paribas Brokerage House in their morning commentary.
Wednesday's session brought a moderate improvement in moods, and some of the losses from previous sessions were made up for. The global market was waiting for the post-session publication of Nvidia's results, which came out significantly above expectations. In addition to beating the consensus on all main lines – revenues amounted to USD 57 billion (+62% y/y vs consensus USD 55.19 billion), adjusted EPS amounted to USD 1.30 (+60% y/y vs consensus USD 1.25) – it also positively surprised with its forecast for the fourth quarter. In after-hours trading, the price of the largest company in the technology sector increased by over 4%, which should help the bulls to launch an upward counterattack after the recent downward sessions, where pessimistic moods prevailed on the American stock exchange. The S&P500 index rebounded from local support around 6,600 points, gaining 0.38%. The technological Nasdaq100 performed similarly, ending Wednesday's session with an increase of 0.56%.
In Europe, however, the German DAX performed poorly, which tried to make up for Tuesday's decline during the session, but the strength of demand, or rather its lack, meant that the quotations ended slightly below the mark. A good partner of the German index was the French CAC40, which also did not maintain the gains from the first half of the day, ending the day with a decline of 0.18%.
The Warsaw market, on the other hand, behaved differently which, in the face of the recent bearish moods, is moving relatively better. Shares of domestic blue-chips increased by 1.85%, defending the round level of 2,900 points. We observed moderate increases in the quotations of the other main benchmarks. The mWIG40 index gained 1.36%, and the sWIG80 index increased by just over 0.5%. The growth leaders were consumer companies, i.e. Dino (+3.72%) and Żabka (+3.49%). Banks also performed solidly (WIGBANKI +2.53%) and KGHM (+3.44%).
What awaits investors today?
Today on the macro calendar we have several important publications, including PPI inflation data from Germany and overdue data releases from the American labor market, such as the unemployment rate. Moreover, the market should fully discount yesterday's results of Nvidia, and the current quotations on Asian stock exchanges support the scenario of a return of bullish sentiment. Investors' attention on the WSE will be focused on the continued publication of results for the third quarter and reports of subsequent companies. The earnings season on the Vistula River is entering a decisive moment, as reports from several of the largest companies are expected today, including: Orlen, PZU and Dom Development.
Tymoteusz Barwiński, Brokerage House of BNP Paribas Bank
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