The second session of this week’s European indexes finish increases. This is due to the oil market and macroeconomic data. Investors are starting to forget about Sunday, the failed meeting of the leaders of oil producing countries, and know better than expected data from Germany.
On the European stock market stood out on Tuesday, the German DAX. The index gained 2.2 percent thanks to better-than-expected ZEW index of the reading, which shows the mood among analysts and institutional investors in Germany. This indicator unexpectedly beat market expectations (published value of 11.2 pts .; forecast: 8 pts.) And had the highest value since December last year.
Apart from reading coming from behind our western border, the market does not appear a number of important macroeconomic data.
Although at 10:00 we met data from the Polish economy, but not discouraged, however, investors from the Stock Exchange to purchase shares. GUS published a reading of retail sales and industrial production. The results were weaker than expected considering the data on an annual basis. It works to the disadvantage of the number of working days, which was in March.
WIG20 gained 0.95 percent on Tuesday, ranking at the end of trading at the level of 1,964.84 points. Especially noteworthy are the shares of companies such as KGHM, PKN Orlen and Pekao. At the other end of the scale was Energa and PZU.
index mWIG40 and sWIG80 also scored an increase, however, it was lower than that of the blue-chip index. Note the shares of JSW, which gained 4.4 percent, and since the beginning of the year, the company has gained less than 60 percent. Firmly gained the Bogdanka coal. These companies are gaining value despite Monday’s report, DM PKO BP on the carbon market. Experts suggest that a rebound in prices of coking coal is short-lived.
In the afternoon, the market data released from the US. The most visible results of the company Goldman Sachs has certainly scored sizable drop in results, but beat analysts’ forecasts on earnings per share. It is for this reason, the US bank shares gaining more than 2 percent.
Also published data from the real estate market, which was weaker than expected, but did not cause depreciation on Wall Street. After 90 minutes of the session the S & amp; P 500 and Dow Jones gained 0.3 percent. In turn, the Nasdaq is 0.45 percent negative territory.
Wall Street met the results of Goldman Sachs
Przemysław Lawrowski
Despite a strong decline in the results, shares of Goldman Sachs to grow in the first minutes of the session on Wall Street. Investors buy shares of the US bank, as its profit was slightly higher compared to analysts’ forecasts.
indexes from overseas began the session with the increases. The exception is the Nasdaq, which after a few minutes of the session lost 0.3 percent.
The Wall Street last season of quarterly results. Before the start of the session on Tuesday, the results showed Goldman Sachs. Revenues declined in the first three in the first three months of the year by 40 percent to the lowest level since the third quarter of 2011. Fell as much profit the bank.
Goldman Sachs earned in the first quarter of $ 1.2 billion, which gives the result 2.68 per share. In the same period a year earlier the company earned 2.75 billion dollars, or 5.94 per share. Then it was the best result of the bank for 5 years. Despite such a strong drop in profit, the bank beat analysts’ expectations on the results. They had expected that Goldman Sachs will earn 2.45 per share.
In response to the results, shares of Goldman Sachs lost in trading before the session 0.4 percent. After the start of continuous trading the shares started to get more expensive, because despite the decline in year-on-year, the company’s profit was higher than forecast.
Financial Reports also showed concern cosmetics and pharmaceutical Johnson & amp; Johnson. The company’s sales reached 17.5 billion dollars, and earnings per share had amounted to 1.68 USD. That’s about $ 0.03 more compared to analysts’ forecasts.
Investors are also behind the data from the US housing market. These, however, were partially ignored by the market. The number of building permits issued in March amounted to 1086 thousand., Compared to 1,177 thousand. in February. Was also lower number of ongoing processes of building houses.
In less than 90 minutes before the end of the session in Europe, the main indices on the Old Continent increase in value. This also applies to the Stock Exchange. The WIG20 index gained 0.7 percent, while the DAX can boast an increase of 2 percent.
WSE: weaker GUS data dampened enthusiasm. JSW high levels of oversold
Jacek Frączyk
Data on industry and retail GUS failed. It’s chilly moods, though west of our borders increases accelerate.
The increase in both retail sales and industrial production less than one per cent in March are far from expectations posed a now our economy. Read more. Shares in Poland did not join because the enthusiasm, which can be seen in the largest markets of the continent.
WIG20 in the middle of trading gains “only” 0.8 per cent., While the German DAX up 2.3 percent. However, while we were at our weak macro data, whereas the German ZEW institute reported surprisingly good data on sentiment analysts and investors regarding the condition of the first European economy.
Expected 8 points. on April ZEW index, and it is 11.2 pts., which is best between December and much better than in the first three months.
Even better is to show the same measure for the euro area. Instead of the expected 8.8 points. is up 21.5 points.
It is not without response exchanges. With arch-loose monetary policy of the ECB there is no concern that the good economic news will be bad for stock prices, so … they grow.
The German DAX gained 2.4 per cent., The French CAC40 1.1 percent ., and the Italian FTSE MIB 0.7 percent.
Leading the growth of the largest companies is the German semiconductor company Infineon (+4.2 percent)., which recently announced that it will cut by 10 percent. remuneration of managerial staff. More than 4 percent. increases also note the French L’Oreal and Danone.
Worse fall quotation Islands. FTSE100 gained only 0.2 per cent., While still remaining under the yoke of the vote on the exit from the Union. Polls are still aligned and while the situation does not change, then to 23 June will be a stone around his neck stock market optimists.
The domestic market still noteworthy dynamics of JSW. In the middle of trading gain of 3.5 percent. and they are at record levels in its history overbought market. Relative Strength index is 83.1 points. Only in January 2012 it was at a similar level, when the share price was still at the level of 110 zł – Now 17,51 zł.
WSE up. JSW does not interrupt the growth
Jacek Frączyk
First half hour session was marked by growth. Interest in the market has traditionally focused on the KGHM.
In less than an hour after the start of the session WIG20 index rising 0.9 percent. KGHM shares (2.6 percent,) conduct increases, but rather it is a rebound yesterday’s decline, which ignored the increase in the price of copper. It is gaining a second yesterday dropout PKN Orlen (+1.1 per cent.), Who also fell yesterday despite falling crude oil. Today, oil price rises by 0.2 percent. due to the strike in Kuwait, which limited the production of raw material. Read more
Among the smaller companies, points out another day JSW growth (3.6 percent). Actions killing up to 100-percent increase from January’s historic minimum. Coking coal prices remain above $ 92 which is good news for the company.
In the West up
Good moods dominate the largest European markets. Despite the puzzling say a member of the FOMC Rosenberg, suggesting the possibility of faster rate hikes the Fed, the desire to buy is intensified.
The German DAX gained 1.3 percent. thanks to increases in energy companies. It is better also on the London Stock Exchange – FTSE100 0.9 percent. France – CAC40 1.3 percent. and Italy – the FTSE MIB 1.4 percent ..
WSE waiting for the CSO. To the world more important Rosengren
Jacek Frączyk
As the analysts from the United States, the recent rally on Wall Street due largely to the rare recent signals about the possibility of interest rate hikes the Fed. After the day such a signal, but it appeared.
After the first hour of our time publicly commented Eric Rosengren of the Fed board. Although generally regarded as the “pigeon”, it now sounded like a “hawk”. He stressed that the market outlook does not fit into the vision of a slow tightening by the Fed feet. Rosengren believes that the US economic situation is healthier than that resulting from the Federal Reserve caution. He put the idea that the Fed may miss the issue of unemployment – ie. That it may go down so low that the US central bank would suddenly and dramatically tighten policy. According to yesterday’s indications exchange futures contracts on the Chicago Fed rates in the closest possible date increase is December – after the words Rosengren may change.
It will be important now for the world’s stock exchanges shares and turn them may be down. The more so that there is a calendar of macroeconomic data that would support growth.
The most important macro data will be the indicator ZEW economic sentiment for Germany. Forecast to increase to 8 points. in the April reading of 4.3 points. a month earlier. The last two readings disappointed – in February the indicator was even at the lowest level since October 2014.
Similar data will be presented for the euro zone – here forecast is for a decline to 8.8 points. with 10.6 points. a month earlier.
There is no important macro data, so much harder wybrzmieją next quarterly financial information with global giants. Your data before the session will give the FMCG giant Johnson & amp; Johnson (forecast profit of 1.66 dollar per share) and the smaller of the largest banking giants Goldman Sachs (forecast profit of 2.43 dollar per share).
Polish stock market is waiting for GUS
From our, local point of view, the most important will be read (10:00), industrial production and retail sales for March. Yesterday’s good data from the labor market – mainly strong growth in employment in the industry – a positive omen.
Analysts predict, however, weakening economic growth. Industrial production was estimated to increase by 3 percent. from 6.7 percent. in February, and retail sales by 3.4 percent. from 3.9 percent. in February, when growth was the second highest level since May 2014.
Polish listed companies, investors listen now news about dividends. Today will be the General Meeting Eurocash in this case. The proposed payout is 1 zł per share, which is the highest dividend in the company’s history (138 million zł). Share profit will also Zywiec, Sonel, Pelion, PWR Media, and the first day after the dividend payment record ING BSK and Lena.
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.
No comments:
Post a Comment