At the same price auction ending the session WIG20 gained nearly 5 points, or 0.24 percent. Losses declined at the last minute KGHM and PGE.
WIG20 albeit not reached at the end of the session to its daily maximum (1954.69 pts.), But an increase of 0, 4 percent. and so reliable. In a similar scale to grow today stocks on the largest markets in Europe: the German DAX +0.7 per cent., The French CAC40 0.5 per cent., And the Italian FTSE MIB 0.8 percent. Worse it was only in London – FTSE100 closed the session with a profit of 0.1 percent. The spectrum Brexitu not allow the prices to break up harder.
The most important day in the growth among blue chips scored PGNiG (+2.0 percent.). The signing of the agreement by the giant PGNiG with Azoty worth 3.3 billion zł, according to many analysts, may be a prelude to a merger of the two companies. But the main advantage for PGNiG is the guarantee of receiving significant amounts of gas through a few key years for liberalizing the gas market.
The titer of the company on today also aspired JSW (+4.6 percent.). Recommendation DM BZWBK two days ago with a target price of 15.6 zł (today’s closing price is 15.55 zł) and the increase in the prices of coking coal and improving the liquidity of the company are the main factors of growth in the share price. Since the end of January and the historical bottom at the level of 8.66 zł, JSW shares have gained 80 percent.
In the case of stock markets in the US – we alternately decreases and increases. The session began with an upward movement, then to adjust. After two hours is 0.1-0.2 percent. higher than yesterday’s close.
In addition to data on consumer inflation (0.9 percent.) saw the light of day the latest weekly data on the number of applications for unemployment benefits. 2.17 thousand. new applications is the lowest figure since 1973.
You can say that in terms of the probability of faster term interest rate hikes the Fed abolished the effect of lower-than-expected inflation and better labor market data.
mentioned in an earlier post weak quarterly net profit of Bank of America at 21 cents per share, was satisfied but stock investors. Shares are rising almost 3 percent. After the first two months of the year, when the shares of the second largest US bank fell by 30 per cent., From March already mostly grow, making up more than 13 percent.
The fulfillment of forecasts could satisfy shareholders. For the whole S & amp; P500 estimated results for the first quarter to be lower by less than 8 percent. and that was more or less decline in the index over the past three months.
Heavily variable start of the US session after the result of BofA
Jacek Frączyk
Season results in the United States began in earnest. Today, your data gave Bank of America. Were in line with forecasts does not mean that good. Net profit fell by 18 percent. Mainly by write-downs on loans for fossil fuel industry.
The second largest bank in the US – Bank of America – announced the results. Net profit fell by 18 percent. to 21 cents per share, ie at the level of market forecasts. The reason will be the December interest rate hike, which contributed to the deterioration of trading on the stock and bond markets. In the last quarter of the bank’s shares fell by 20 percent.
BofA is one of the largest lenders of the mining sector, US crude oil. The fall in prices of raw materials caused the need to create reserves worth 997 million dollars for potential losses in companies in the energy sector.
The overall credit quality remained at safe levels. Loans for the energy sector are estimated to represent 2.3 per cent of Barclays. all loans granted by the bank.
Bad data does not make, however, that the market fell into a depression after yesterday’s strong rally. BofA shares even grow 0.3 percent. 10 minutes after the first session. The rest of the market, however, does not share the satisfaction of shareholders and BofA indexes are slightly below zero.
Since its opening on Wall Street began to weaken in Europe as well. The German DAX their peaks reached before 15:30 by now gained less than 0.6 percent. Together with its currency losing a share in the UK – FTSE100 goes down by 0.1 percent.
Today’s vote in the Bank of England has brought a unanimous decision of no change in interest rates. Read more. This is not strengthened the pound, which lost against the dollar and euro after 0.4 percent. Before the referendum on June 23 Brexitowym trend is unlikely to change unless they dramatically reverse polls now indicating a balance among the secessionists and unionists.
With the market events worth noting another day growth of Nokia (+2.4 percent .) that after the announcement of job cuts on the acquisition of Alcatel’s becoming more and more in the eyes of the stock market.
in Warsaw moods also less and less optimistic. WIG20 hour before closing the session grows, but only 0.3 percent. The index is pulling down the share price of KGHM (-0.8 per cent.), PKO BP (-0.3 per cent.) And PGE (-0.4 per cent.). In the case of KGHM is of course related to the day falling by 0.4 percent. copper prices.
From the macro data today were the most important information about prices in the euro zone and the US. In Europe we have a balance between deflation and inflation in the US has already fixed the prices are on the inflationary side (+0.9 per cent. Year-on-year). In the case of the projections they were at the level of price increase by 1.1 per cent., So this can be considered as an argument against the acceleration of rate hikes.
WIG20 is in place. The apparent calm on the Stock Exchange
Damian Słomski
At the start session on the Warsaw Stock Exchange could not talk about the high volatility. Following hours did not improve the situation, but at least WIG20 returned above the dash and yet remains above it.
At the halfway point of Thursday’s session, the index of blue chips fluctuates in a narrow range 1945- 1950 pts., ie at the level of yesterday’s close. Given the decline in the first hour, the situation does not look bad.
This time, the Warsaw Stock Exchange was not proper at all worse than its main competitors in Europe. The whole region affected by impotence of both demand and supply. Was a chance to revive the occasion of the publication on inflation in the euro zone, but the reading did not differ much from the forecasts. Year on year prices measured by the HICP remained unchanged, although there were fears of a decline of 0.1 percent. Not much has changed the decision of the Bank of England to leave interest rates unchanged.
While the indexes of almost stand still, among specific companies you can find some interesting stories. Among blue chips antihero is Eurocash overestimated by almost 3 percent. Almost 2 percent. gains and PGNiG, the DM BOS issued just sell recommendation with a target price of 4.25 zł. The current exchange rate is approx. 5,1 zł.
Looking at the broader market, pay attention to rising prices of over 10 percent. Miraculum papers. Much less in the black is JSW, which since Monday has appreciated nearly 30 percent. More on this subject we wrote HERE.
Investors went into standby mode
Author: Damian Słomski
WIG20 at the start of the session is near yesterday’s close. Among blue chips there is little volatility and anticipation of developments in other markets.
After yesterday’s rally, investors catch a second wind. The positive is that we do not see right away the profits. Is a question mark, however, quick attempt to attack the psychological barrier of 2,000 points. In the absence of major stimulus, the WIG20 index may hover around 1,950 points.
A small variation there is in Europe, which may be surprising, compared with the situation that we observed today on the stock exchanges in Asia. More than 3 percent. Nikkei225 gained. Above the line finally he was also the Shanghai Composite.
enliven the company should be in the following hours macro data. The focus today is inflation. The eyes of investors will also be facing the Bank of England.
For now, everything goes thoughts shoppers stocks
Author: Damian Słomski
on the stock markets so far remain very good mood. On Wall Street, we have a few months new highs, and Japan continues strong rebound. Climate spoils some profit-taking on crude oil. Before us important data on inflation and the decision by the Bank of England.
After the first part of the week the exchange balance is positive. The increase in risk appetite in the world allowed the index WIG20 gain on Wednesday, almost 2 percent., Which although it was one of the weakest results in Europe, it still does not change the positive reception.
index blue chips moving away again from the border 1900 pts., which was tested for the last four sessions. It seems that this is a good opportunity for buyers to going with the flow, try again hit the bar suspended 100 points. above.
Strong upward movement on Wednesday it would be now confirm at least stabilization of trading in WIG20 around 1950 pts., showing that the recent correction is only a correction. Buyers have in their hands a hard arguments, but there are some risk factors that you have to have in mind.
Markets are like communicating vessels. While a stock market closes, another moves with trade. After the close of European stock markets maintained their good moods Americans. On Wall Street, we saw growth in excess of finally 1 percent. The Dow Jones Industrial was even at the highest level in five months.
Investors from overseas welcomed, among others, one of the first financial reports for the first quarter. JP Morgan earned 1.41 dollar earnings per share forecast to 1.25. The Bank announced at the same time, it plans to spend $ 1.9 billion share buyback. Today, your results will present, among others, Wells Fargo and Bank of America.
baton after the Americans took over in the relay Japanese growth. Nikkei two hours before closing gaining more than 2.5 per cent., Continuing the exceptionally good series which started on Monday. In three days the index has jumped up to 7 percent. Much less on the background fall China, but what is important, we do not see there clearer repricing. Balance Shanghai Composite roughly goes to zero.
In order not to be too colorful, it is worth noting that since last night cheaper oil. After reaching Brent to $ 45, we have to deal with the realization of profits. Not a lot, but still. The morning brings about 1 percent. sell-off.
It should also keep an eye on in the context of the planned publication of macro data. In the calendar we have first of all readings of inflation for the euro zone and the US. Of course, they will be analyzed in the context of the monetary policy of central banks.
One of the major banks today will take the decision on interest rates. Talking about the UK. The message of the protocol will be made public at 13:00 Polish time. There is no indication that the decision might be different than leave the main interest rate at 0.5 percent.
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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