Such as the recent increases in WIG20 recently had at the end of April last year. Soon after the disaster began. This does not mean that it must be so this time.
The overbought Relative Strength WIG20 (+2.0 percent). Rose at the end of the session to the level of 70.54 pts., Which is definitely in overbought area. Such a circumstance happening in the last few years, once and sometimes twice a year. So let’s see, that grew too fast and may soon slip.
“Too fast,” did not grow last locomotive Stock Exchange today, ie KGHM. Today, however, gained up to 5.2 percent. 1.3 percent increase in copper prices in London indeed has been weakened by the strengthening US dollar against the zloty by almost 1 per cent., But it gives good prospects for profitability growth.
After the session, the company reported financial data. The loss was in 2015. 5.01 billion zł, almost as much as was negative allowance for mines in Chile and Canada. So we can say that KGHM ended the year at zero.
The higher than forecast was for revenue in the fourth quarter – estimated that it will be 4.9 billion zł, and it was 5.1 billion zł. Let’s see whether this fact will enjoy tomorrow, investors and whether today’s jump of the course was not a little exaggerated.
One thing is certain – to pay a dividend comparable to the previous year (800 million zł, ie. 4 zł per share) , the company will have to take a loan because cash was at the end of the year 183 million zł, and the cash came her in 2015. 121 million zł.
WIG20 gained 2.0 percent today. The vast majority of revolutions per session was associated with companies growing – 910 million zł. Only 47 million zł capital circulated in the companies falling.
Significant increases in addition to KGHM reached today among the largest companies Enea (+6.0 per cent.), LPP (5.3 percent.) And PGE (+4 , 6 percent.). Investors not discouraged so drop in sold production in the energy sector by 5 percent. in February. They worked rather good data on industrial production – indicate that energy demand in the corporate sector will grow, and thus the price of energy there sold.
Currency LPP rose after the resignation of vice-president responsible for brand Reserved, but also for sale website. But more tie this increase should be a reflection of previous declines in response to the poor results of the fourth quarter. Data on retail sales of clothing for February show that the good times for the LPP has not yet passed.
At the largest stock exchanges in Europe declined declines at the end of the day. The German DAX lost 0.9 per cent., The French CAC40 0.5 per cent., And the Italian FTSE MIB 0.6 percent. Outside the euro zone has grown – British FTSE100 by 0.4 percent. The Bank of England has not changed today feet, which was well received on the pound.
Meanwhile, the US is growing – the Dow Jones Industrial by up to 0.8 per cent .. Declaration Fed fewer rate hikes this year, improved mood although the term … in July had become more likely and is already indicated by the futures market in Chicago as the first next. Previously, it was to be in September.
Strong gold and good CSO. Stocks must go up
Jacek Frączyk
Data GUS exceeded market expectations. After a sensational employment data two days ago, today’s data from the industry and the retail market leave no illusions. It’s good.
To all this one must add the weakening dollar after dovish Fed statement. read more. And the increase in commodity prices. Shares in the Warsaw simply can not fall in such circumstances. Even though the indicators Relative Strength WIG20 is already on the verge of buying. So high RSI was not, moreover, since April last year, suggesting the upcoming time correction. This, however, must be translated into perhaps tomorrow.
How can you correct, however, since economic performance go up? Retail sales including deflation has increased by up to 6.2 per cent., And industrial production by 6.7 percent. Anything above analysts’ expectations. Read more
The turnover dominated today in Warsaw’s growing. Before opening in the US as much as 500 million zł turnover is growing on the shares, and only 173 million zł for falling. WIG20 index rising 1.4 percent.
The most active company KGHM (+4.7 percent)., Which is not quite that benefits from rising copper (+0.5 percent). – Today was even at the level of $ 5,070 per tonne on the LME – is still publishes this afternoon annual report. Expectations are optimistic.
As the Warsaw Stock Exchange today behave other emerging markets. Strong growth recorded Brazil (Bovespa +4.8 percent.), Russia (RTSI 4.0 per cent.) And Turkey (BIST +2.2 percent.). In the first two cases, it is related to oil prices.
These are gaining today 2 per cent., And Brent surpassed even $ 41 per barrel. All thanks to postpone the OPEC meeting in mid-April, which indicates the determination of countries cartel to measures restricting the supply … or at least an increase in supply.
Shares in Western Europe today include more than the percentage declines. Strengthening of the euro against the dollar is not well seen – euro was up after weaken the reduction of key interest to zero, giving a boost of energy exporters, and here it is, on the contrary, because the Fed does not intend to rapidly increase its feet.
terribly loses German DAX (-1.6 per cent.), a little less French CAC40 (-1.2 per cent.). It is that everything has to do with the euro seen after only a slight decline in the UK – FTSE100 drops to only 0.1 percent.
Light Up opened today, the major US indices. Industrial DJIA rising by 0.3 percent. The S & amp; P500 by 0.1 per cent., And falls technological Nasdaq 0.3 percent. Yesterday marked increases in response to the Fed therefore have its continuation.
WIG20 maintains an advantage over the rest of Europe
Przemyslaw Lawrowski
Despite the positive for the markets the Fed decision and rises in commodity prices, stock markets in Europe at the halfway point of the session fell “below the line” . The exception is the Warsaw Stock Exchange, which maintains a level of around 1,920 points.
The German DAX index lost 2 percent and is the weakest European bourse. Percent over losing the French CAC-Italian FTSE MIB and Spanish IBEX Swiss SMI. Behind us, the decision of the Bank of Switzerland, which has not changed the situation on the market. Interest rates in this country are still historically low.
still gaining in value of raw materials. Brent crude oil goes up by less than a percent and copper gained slightly more than 0.5 percent.
In the morning, investors know the data from the euro zone. According to them, inflation was 0.2 percent year on year. The result is in line with expectations. Month-to-month prices rose by 0.2 percent.
About 14:00 on the market will flow further data from the Polish economy. GUS this time will be given on industrial production and retail sales. Investors predict that production last month grew by 5.5 per cent and sales by 3.3 percent. WSE probably too much not to take the data from the Polish economy.
Increases in Europe. Polish and Hungarian parquet awarded
Przemysław Lawrowski
European investors began Thursday’s trade with the increases, the wave of Wednesday’s Fed decision. A definite advantage here developed stock markets of developing economies.
In Europe on Thursday distinguished Hungarian BUX and Polish WIG20. Minimal growth recorded Italian FTSE-MIB, and the CAC and DAX is slightly “under the dash.”
Among the blue chips is the best KGHM. The company is growing at 4 percent, thanks to soaring copper. Raw material prices this morning exceeded 5 thousand. dollars per ton. A small loss presents Energa, whose shares soared on Wednesday, down by as much as 10.68 percent. Investors scared willingness to engage the company in the investment on the Polish Group Mining.
An increase of about 0.79 percent presents Asseco Poland. IT company released results last night. In 2015, he earned $ 365.5 million, compared to 358.4 million.
Investors at 11:00 learn inflation data from the euro zone. The result is important because of the steps taken last week by the ECB. Lowering interest rates and increasing the scale of the asset purchase, the bank hopes to stimulate growth in the euro area and increase inflation.
We know the Fed’s decision. Yes react investors
Przemysław Lawrowski
As expected, US central bank left interest rates unchanged. The impulse to growth on Wall Street, however, gave the forecast Fed regarding interest rates this year and forecasts for the growth of US GDP. The initial reaction of investors from Europe on this data will be similar.
The US central bank suggested that this year will take place two interest rate hikes, and not as previously expected – four. It is this information caused the greatest stir among investors. In response to it, the players on Wall Street began to buy shares. Finally, the Nasdaq gained 0.83 percent, the S & amp; P500 firmer by 0.56 percent, and the Dow Jones went up by 0.43 percent.
On Wednesday, the US Fed has also published the first in this year’s macroeconomic projections. These data are provided on a quarterly basis. The Federal Reserve in their predictions adjusted the forecast level of economic growth.
| Macroeconomic forecasts the Fed for the US economy (in %) | |||
|---|---|---|---|
| index | 2016 | 2017 | 2018 |
| GDP | 2.1 – 2.3 | 2.0 – 2, 3 | 1.8 – 2.1 |
| unemployment | 4.6 – 4.8 | 4.5 – 4.7 | 4.5 – 5.0 |
| inflation | 1.0 – 1.6 | 1.7 – 2.0 | 1.9 – 2.0 |
| source: money.pl based on the projection of the Fed | |||
the tone of the Fed’s forecasts and the same speech Janet Yellen was rather dovish, which should translate into growth, which we observe on Thursday on European exchanges. From the point of view of monetary policy “loose” the statement head of the Fed has already resulted in a decline in the value of the dollar against the euro. Price euro against the dollar rose to its highest level since mid-February.
In addition to information from across the Atlantic, European investors will focus on Thursday on data from the euro zone. Eurostat 11 publish data on consumer inflation and balance of foreign trade. According to forecasts, in February, prices fell by 0.2 percent year on year to the recent increase of 0.3 percent year on year. Further price reductions will not satisfy Mario Draghi, who at any cost strives to stimulate the growth of prices in the euro area.
A little earlier the market will know the decision of the Swiss National Bank on interest rates. You probably will not. This information is important for those who repay the loan in Swiss francs. Any decrease in the cost of capital would ensure that the Swiss currency would be cheaper, and the movement of the reverse would make the its price rose.
On Thursday, the Central Statistical Office will continue the publication of data from the Polish economy. This time we will know the results of industrial production and retail sales. February should be the month acceleration of both indicators. The market anticipates that production last month grew by 5.5 per cent and sales by 3.3 percent. After the session, the results will give KGHM.
the above text is an expression of personal opinion and the views of the author and should not be construed as a recommendation to buy or sell securities.
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