KGHM is already worth more than Dino and Allegro combined. The WSE is again among the leaders in Europe
The beginning of the week on the Warsaw Stock Exchange brought a return to good moods. The commodity boom, which has entered a phase of parabolic growth in the case of precious metals, continues to draw the most attention. Investors therefore raised the capitalization of KGHM to a record PLN 71 billion, which means that the copper (and silver) giant is now worth more than Dino and Allegro combined.
Monday's quotations on the WSE ended with solid increases in the main indices and a return to strong growth after Friday's correction. While investors on the core markets, waiting for Wednesday's Fed decision on interest rates, slightly increased the main indices in the rest of Europe and the US, on the domestic market the increases were significant and pushed most of the main indices to new records. One may object to the breadth of the increases at Monday's session, 40 percent. companies recorded growth of over 49%. with inheritances.
At the end of the day, WIG20 gained 1.71%, reaching the session level of 3,360.99 points, which is a new record for the ongoing bull market and a result not seen since the beginning of 2008. WIG gained 1.5%, but gained even more and set a new historical record of 124,247.64 points. The new all-time record is held by mWIG40 (1.19%), which at the end of the day reached 8,796.04 points for the first time. In turn, sWIG80 (0.11%) is consolidating below the record levels set in mid-January. There can be no objections to the turnover, which on the broad market exceeded PLN 2.175 billion, of which PLN 1.77 billion concerned WIG20 companies.
KGHM remained the undisputed leader of the session. Shares of the Lubin plant increased in price by 8.38%, and during the day one share was paid as much as PLN 357.60. They ended the day at PLN 355.80, which valued the entire company at PLN 71.16 billion. This is more than the market currently values Dino (PLN 38 billion) and Allegro (PLN 31.5 billion) combined, or Budimex, Pepco, Alior and CCC, also valued jointly.
The KGHM price is driven by the speculative mania for silver, the price of which is already gaining parabolicly. KGHM, as the second largest silver producer in the world, is therefore chosen by foreign investors looking for exposure to silver with financial leverage. However, KGHM is primarily a copper producer, for which price forecasts are also favorable due to expected long-term deficits, including: by limited supply from the mine.
The following banks also showed good form in WIG20: Pekao (2.88%) and PKO BP (2.6%). Over 2 percent Santander's stock also gained. During the day, the Central Statistical Office released good data on retail sales, hence the good performance of commercial companies such as LPP (2.36%) and Dino (0.8%) is not surprising. Despite the data, the largest decline in WIG20 was recorded by CCC shares (-1.92%), CD Projekt shares also performed poorly (-1.19%), and among the largest companies, the shares of Budimex (-0.9%), Allegro (-0.73%), Ket (-0.68%), Orlen (-0.43%) and PZU (-0.06%) were still below the line.
Among medium-sized companies, Tauron was the leader, with its shares increasing in price by 4.95%. The company announced entering into a strategic agreement with TGE and PSE to develop a flexibility services platform. Enea's shareholders were also optimistic (5.87%).
Newag shares were hot (5.15%). Investors responded enthusiastically to the signing of an agreement with Siemens Mobility, which assumes cooperation in the supply of high-speed trains for PKP Intercity. Develia (3.37%) and Benefit Systems (2.65%) also recorded solid growth. On the loss side, XTB stood out, with its price falling by 1.7%.
The prices of last week's toasts were corrected on the broad market by 20.7%. Pure Biologics shares were overpriced, Medinice's stock dropped by 10.1, and 14.29 percent. Capital's price dropped.
