On Monday, the stock indices on the Warsaw Stock Exchange turned red at the opening. A moment after the opening, the WIG20 index dropped by 1.9%, to 3,200 points. Of the 20 listed companies in this portfolio, all of them lost at the beginning of the session, except for Orlen, whose price fluctuated around the previous close, but a few minutes later its prices were in red.
The broad market index, i.e. WIG, lost approximately 1.9% shortly after opening. and reached 118266 points. Let us remind you that the end of last week brought a large decline on the global and Polish stock markets. WIG20 lost 1.9% on Friday. and WIG 1.8 percent. The decline caused by the war in the Middle East almost erased the gains of WIG20 and WIG calculated since the beginning of this year (at current quotations they amount to approximately 0.6%).
The Warsaw Stock Exchange is no exception; on Monday, deep declines were also visible on other markets. Among European stock exchanges, the German DAX and the French CAC40 lost more than the WIG20 (about 2.5% each). The Hungarian BUX and the Czech PX fell by 1.9 percent, respectively. and 1.3 percent
Asian stock exchanges have had a disastrous session. The largest declines were recorded in Japan. The main index of the Tokyo Stock Exchange, the Nikkei 225, fell by about 7%. IN South Korea's KOSPI index lost almost 6%. The scale of the sale was so large that… The Seoul Stock Exchange authorities had to activate emergency security mechanisms and briefly suspend tradingto calm down the market situation.
The reason for the decline is the sharp increase in oil prices, which are becoming more expensive for another day in a row. Quotes on the night from Sunday to Monday American West Texas Intermediate crude oil temporarily increased by over 30%, reaching the level of USD 118.21. per barrel. In turn, Brent Crude oil prices rose by over 27%, also exceeding the level of $118. per barrel. These are the highest prices since July 2022. A few days before the US attack on Iran carried out a week ago, oil prices were in the range of $60-65. per barrel.
