2015-02-17 22:35 photo Tomasz Brankiewicz / Money.pl Author: Jacek Frączyk 
Wednesday will be another day of wrangling between the finance ministers of Greece and the euro area. All indications are that the negotiations will last until Friday, which will reflect the continuing uncertainty in the equity markets, including the WSE.
The Greeks adopted a hard line, and seem to not to accept the compromise option, which they are not prepared those who buy their bonds, mainly European banks. Outcome of the negotiations will determine the mood of the markets for a long time. Entering the shares now is actually toss, because a lot depends on whether the Greeks are really so hard , as shown.
Positive predict the outcome of negotiations Americans. This explains the record closing of Wall Street, and specifically the most important index of the S & amp; P 500 at 2100.34 points. You see it in quotations of the National Bank of Greece on the New York Stock Exchange. At the close of market gained 1.2 percent. although few percent decline in early trading.
Another positive on Wednesday quotes can be a declaration of the President of the Swiss National Bank, Thomas Jordan, that the bank is ready to intervene.
– A significant revaluation of our currency is the Swiss economy, especially the sectors exposed to international competition, are now facing major problems and numerous challenges – said Jordan .
Wednesday will be another day of wrangling between the finance ministers of Greece … See how cunning Tuesday’s session on the New York Stock Exchange.
Such a statement should work well on the stock prices of Polish banks.
In the United States, but only at 20:00 our time, will be published records of the January meeting of the Fed. This will serve as analysts to speculate about when the interest rate increases in the largest economy in the world. Any hawk interpretation may result in declines in stock market indices.
On Wednesday last week will be the celebration of the Lunar New Year in China. Markets will therefore have to live without news about the economy of the Middle Kingdom.
End of the roller coaster on JSW
Ends roller coaster on the shares of JSW. Tuesday appointed a new p.o President – Vice President yet. technical, George Borecki. The day before the president resigned Jaroslaw Zagórowski. The strike is over, the specter of bankruptcy giant need to postpone, and perhaps forget about it, because the time to go back to the fundamental assessment of the company, taking into account the cost of the strike.
Before the protest action in January, we had a couple of valuations, of which the lowest is 20.60 zł per share from DM BOS, and the highest 27 zł of DM mBank. According to the declaration of the Management Board of the Company on each day of the strike was losing zł 27 million in revenues, or for 19 days gives a total of 513 million zł. It accounts for about 7 percent. revenue forecast for 2015.
The miners have run the touch on Saturdays loss due to a strike, but you still assume that the valuation should be January but throw in a discount. At the current price of 25 zł, it seems that the growth prospects of quotations only need to look now at the world’s coal prices. And these, fortunately for the company, rebounded by almost 10 percent from the hole at the end of January.
Companies Mining In the spotlight
The results on Wednesday will give the Anglo-Australian BHP Billiton, the largest mining company in the world. Including extracts iron, diamonds, coal, manganese, gold, oil, aluminum, copper, nickel, uranium and silver. This information may be important from the point of view of our commodity businesses. KGHM, PGNiG, JSW, Bogdanka Lotos obviously are not fully comparable, but first will get the signal, which can generally be expected in this industry and secondly you need to be aware that global investors are certain things thrown into one bag.
With regard to the KGHM is the hole at the end of January, a reflection on the prices of copper enters a phase correction. On Tuesday, grew cheaper in London the second day in a row to 5 $ 666.25 per tonne in the 3-month contracts. The driving force behind the increase in copper prices in the last few years, the Chinese economy. For that, unfortunately, the next data will be announced on May 25, when published, the latest industrial climate indicator (PMI).
The second pillar also cheap revenues KGHM – silver. Analysts estimate that has to do with a strengthening dollar. In addition, silver is associated with quotations of gold, and tomorrow, and the next week the demand for gold will meet with the absence of Chinese consumers, celebrating the Lunar New Year. Chinese is the third of the global demand for gold products.
Reports Polish companies
The most interesting domestic companies, we’ll see how last year ended Asseco South Eastern Europe and Orbis. The first of the companies will give you what is true only 10 percent. Asseco Poland group revenue, domestic computer industry giant, but the results can show what you can expect throughout the holding.
Orbis is one of the less-traded companies from średniaków with mWIG40, so whatever they were, the financial results should not shake the market. It is worth noting at Orbis, that due to the fact that the company recently lock it the largest in its history, the takeover of hotels in Central and Eastern Europe.
Important macro data for Polish and USA
On Tuesday, we had quite optimistic data on employment and wages in the Polish corporate sector. Employment growth rate – 1.2 percent. year on year – was the highest since 2011, while wages have improved by 3.6 per cent., which, taking into account deflation gives 5 percent real growth. All indications are that the company, despite the unfavorable external circumstances, such as an embargo on Russia or confusion with Greece, does not reduce investment and develop business.
The fact that the pace of development was in January of this year we will on Wednesday at 14:00. Then give the CSO key economic data on industrial production, construction and assembly output and retail sales.
The expectations are not too optimistic. Industrial production in analysts should increase by 1.8 percent. year to year, which gently writing does not impress in comparison with 7.9 percent growth rate in December and 4.1 percent increase in January last year.
The average forecast for retail sales only talking about 0.6 percent. growth. There will be a lot of reasons to be happy to have achieved this outcome compared with 1.8 percent growth rate of the previous month and 4.8 percent increase in January 2014.
About how to handle the largest economy in the world, but we will find out at 15:15 our time. We will learn about data on industrial production in the US for January and the level of capacity utilization. Forecasts are relatively good – 0.3 percent. production growth to December and increased capacity utilization to 79.9 percent. of 79.7 percent. a month earlier.
45 minutes prior to data about the industry we know how the condition of the US housing market. According to forecasts, the number of housing starts has decreased by 19,000 to 1.07 million, and construction permits increase by 12,000 to 1.07 million.
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