At the end of trading in Europe, it turned out that in the words of Draghi did not lurking negative message. Not yet announced the increase in interest, and a reprint will be as announced.
Despite initial declines, which heralded the market something is not like in the words of Draghi, after a few hours everything was back to normal, ie. Drops turned into a slight growth in major markets.
the German DAX ending the day 0.2 percent increase that results, however, largely from the clarifying the situation at Volkswagen. Volkswagen agreed to put down at least $ 10 billion. within the reserve to meet future civil actions of their American clients for fraud associated with diesel engines. According to “Die Welt”, each of the owners of cars, fitted with an illegal device distorting measurements of exhaust emissions, will get the 5 thousand. dol. compensation.
Stocks carmaker gain at the end of the session almost 6 percent. and the largest increase among companies in the index.
0.4 percent. acquires Italian FTSE MIB. In the top of the stretch it shares in the financial sector, including Unicredit (+2.4 per cent.) And Mediobanca (3.2 percent.).
Banks are also strong points of the quotations in France, although the CAC40 but declining. The reason is more than 5 percent of shares exit Pernod Ricard made public after weak sales data Whisky in China.
In Warsaw, one-eighth rotation focused on the shares of KGHM (-0.9 per cent.). This is not helped increase in copper prices (+0.6 per cent.) And the weakening of the zloty against the dollar (-1 per cent.), Apparently not so for the future health of the company is all about. Capital simply changing geographic location.
The biggest influence on the drop in the WIG20 index by 0.6 percent. However, the shares were Orlen (-2.2 per cent.). Disappointed weaker by 60 percent. profits and a weakening of the zloty is not good news for the importer. A price of oil recently exceeding today grew up to 46 dollars per barrel of Brent.
In addition WIG20 interesting movements took place in the Forte (+6.6 percent). With mWIG40 and Skot (31.8 percent.) Of sWIG80.
In the case of the first growth is interesting that BM BGZ BNP Paribas was lowered its price target on the stock. At the same time, however, it was announced that the general meeting of shareholders will consider the dividend 1 zł per share. It is still less than half a year ago, but … who said that the shareholders agree with the proposal of the Board. Consolidated net profit for 2015. Was, after more than 12 percent. higher and if we apply a simple proportion, we could count on dividends, even 2.2 zł.
Regarding Skotanu – as we said earlier, the cooperation with Synthos in the development of new business kindled the minds of the players.
Today after the close of the session data set before even technology giants – Google and Microsoft. In anticipation of the Wall Street does not behave soberly – Nasdaq albeit gently rising 0.1 per cent., But the S & amp; P 500 lost 0.2 percent.
The ECB’s decision did not like Bourses
Jacek Frączyk
the ECB’s decision was in line with predictions. But apparently the markets had expected something more. Perhaps the early supply of newly dodrukowanych money.
ECB meeting ended with no surprises, everything remained the old way, ie, with record low interest rates changed in the last month. In June announced the start buying corporate bonds increased from 20 billion monthly reprint. Read more.
It’s not like investors. Negative sentiment does not apply to banks for sure, because this sector is now growing on the largest stock exchanges in Europe. They fall such companies as: Pernod Ricard (-7 per cent.), By weak sales of whiskey in China, and Ericsson (-12 percent). After the publication of weak quarterly operating results.
rose for shares of Volkswagen (+ 5 per cent.) after reaching an agreement, under which the German manufacturer will redeem half a million diesel cars and zafałszowanymi data regarding emissions.
with the automotive industry it is worth mentioning the good results of the General Motors (+2.3 proc.), who earned in the first quarter of $ 1.26 per share, and expected only 1.01 dollar. Revenues were higher by $ 1.5 billion average forecast.
The Bad and the information came from Mitsubishi Motors. Shares of the company fell to a record low after the discovery of manipulation tests fuel economy of 625 thousand cars. The market value of the Group decreased by one-third in two days, an increase of $ 2.5 billion.
Wall Street down together with Europe
After opening slightly declining (about -0.2 percent. declines in) on Wall Street, in Europe has decreased by 0.4-0.5 percent.
WIG20 reacts more nervously – lost 1.1 percent. Withdraws probably abroad, because while we declines in gold: the euro by 0.8 per cent., And the dollar by 0.7 percent.
The capital flows today, among others, KGHM (-0.3 per cent.), PKN Orlen (-2.2 per cent.) and Pekao (-1.0 percent). – on these companies recorded the highest turnover.
Fuel company earned about 60 percent less year on year. Net profit amounted to only 336 million. They expected 785 million zł, and the worst forecast ISBNews pointed to 413 million zł. This is not good.
Increase scored on Skotan (+27 per cent.) With the highest turnover among companies sWIG80. The Company sold part of the business associated with the production of yeast Yarrowia lipolytica and ethyl esters of higher fatty acids – in the development of this project will engage Synthos (+0.2 percent.). Cooperation with the giant has awakened the imagination of stock market investors.The reversal of gains against the decision of the ECB
Przemysław Lawrowski
at about 2.5 hours before the announcement of the ECB’s decision on interest rates, European indexes began to glow red. The deterioration in sentiment is related to the fact that the market today can not possibly expect any easing of monetary policy by the central bank of the euro area.
The decision of the European Central Bank will be announced on 13:45, a press conference Mario Draghi is scheduled at 14:30. Bank in March reduced the deposit rate to -0.4 percent and the refinancing rate to the level of 0 percent. About 20 billion euro also expanded asset purchase program.
WIG20 index lost about 0.4 percent and the German DAX, French CAC and the Hungarian BUX fall by about 0.5 percent. At a minimum positive territory halfway through the session held on to the Spanish and Italian stock market.
The British FTSE100 does not differ from the pan-European trend and lost about 0.6 percent. It is also thanks to the weaker than expected data on retail sales in the UK. In March, it increased by 2.7 percent year on year, compared to the projected 4.4 percent.
Among the Polish companies are still losing more than 2 percent of PKN Orlen. The second weakest company among blue chips PKO BP. On the other hand, the biggest increase presents PGNiG and KGHM.
In the afternoon we will know the data from the US. The most important will be the weekly reading on unemployment benefits in the United States and the publication of the consumer confidence index Conference Board.
PKN Orlen at the end of the rate of large companies
Przemysław Lawrowski
WIG20 just like any other stock exchange in Europe is gaining in value on Thursday morning. Among the largest companies listed on the Warsaw Stock Exchange, the largest decline can be proud of PKN Orlen, which before the start of the session reported quarterly results.
WIG20, along with other European indices started Thursday’s trading in shares of gains . The exception on the map is an exchange Swiss and Greek, which lose their minimum value.
markets all the time helps the good condition of the oil market. No matter there are also increases in Asia. Near yesterday’s closing level is the London FTSE100. The local stock market is waiting for data on retail sales, which will appear at 10:30. If the predictions are confirmed (+4.4 percent year on year), we have to deal with the improvement in sentiment in the market.
WIG20 gains after the session about 0.3 percent. At the head of the blue-chip rate is KGHM, which slowly is approaching the level of PLN 80 per share. As well copes mBank and BZ WBK. Bank shares bounce after yesterday devaluated. The weakest company PKN Orlen, which showed the results for the first quarter of this year. Fuel company earned about 60 percent less year on year. Net profit amounted to 336 million, with the largest increase in sales, the company reported on the Czech market.
The market is waiting for the next move Mario Draghi
Przemysław Lawrowski
Further increases in oil prices and positive sentiment in Asia will help on Thursday, investors from Europe outputs “the dash” . Peace of mind can disturb the ECB decision on interest rates. Morning players from the Vistula will also look at the results of PKN Orlen.
The improvement of the situation at the end of Wednesday’s session largely determined by an increase in oil prices. With the sharp “firing” in raw material prices we had to deal after the US Department of Energy reported data on stocks of fuel in the USA. It turned out that the amount of accumulated oil rose by 2.08 million barrels, while the market expected a rise of 2.4 million barrels.
On Thursday morning, the “black gold” is still more expensive. After 7:00 Brent oil price has already exceeded $ 45 per barrel. That’s more than the market developed before the last talks manufacturers in the capital of Qatar. A slightly positive territory on Thursday are also Asian stock exchanges. Shanghai stock market is growing, and the index of the Tokyo Stock Exchange can boast an increase of more than 2 percent.
It is these two factors make the beginning of Thursday’s session in Europe can be quite successful. At the end of Wednesday’s trading, the WIG20 index reached 1,962 points. During the day, the situation on the stock markets may spoil the decision of the European Central Bank on interest rates (13:45) and the words of Mario Draghi at the press conference (14:30). These events did not arouse enthusiasm in the market, as the market rather not count on further easing of monetary policy in the euro area.
Last month, the ECB has not only reduced the level of interest rates, but also announced a larger program of asset purchase and another round of cheap loans to the banking sector. Deposit rate in the euro area decreased to -0.4 percent and the refinancing rate, called the main interest rate has gone down from 0.05 percent to 0 percent. In turn, the asset purchase program has been increased by € 20 billion per month, so now the bank will buy securities for 80 billion per month. ECB chief added, however, that this step, the bank ends a series of reductions in the cost of capital.
In addition to the ECB’s decision on Thursday, the market learns to read of retail sales in the UK (10:30) and the minutes of the last MPC meeting (14:00 ). Information from the British Isles will not change much on the local stock market, as a major risk factor, which worried investors is the June referendum on continued membership of the country in the European Union.
The market situation almost bring the data from MPC . At the last meeting the council decided to keep interest rates unchanged. For the moment nothing indicates that there is any changes in monetary policy Polish.
Thursday is also the continuation of the publication of first quarter results on Wall Street. The report shows, among others, Google, General Motors, Microsoft, Starbucks and Visa. Of these only car company will show results before the session.
The financial report released on Thursday morning PKN Orlen. The company earned in the first quarter of 337 million (gains attributable to shareholders of the parent company), against 756 million profit in the same period a year earlier. The market expected a profit of 785 million.
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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