WIG20 lost more than 1 percent, while most European markets see gains. Polish stock market is in the infamous group together with the Russian and Portuguese stock exchange. As a result, the blue-chip index fell below 1,830 points.
The reason is probably fear of investors before Friday’s decision by Moody’s rating on the Polish. Due to the high risk, the players just in case, get rid of the shares held.
One of the best performing large companies is a distributor of spareparts – the company CCC. Investors do not alienated even weaker recommendation issued by analysts Haitong Bank. According to her, the securities company is worth 154.2 zł, at the recommendation of “neutral”. That’s less than the current price of the shares of CCC.
At the other end of the rate of blue chips is PKO BP, which yesterday showed results and KGHM and Bank Pekao.
For us the morning data from Germany procurement in industry and foreign trade. Our western neighbors next weak data on orders, boast a sizeable surplus in foreign trade. In March, it amounted to 23.6 billion euros.
index DAX gains on Tuesday afternoon 0.3 percent, as the French CAC and the British FTSE100. Percent gain over the Italian FTSE-MIB and the Spanish IBEX.
In the afternoon, the market virtually no data from the US. It is noteworthy that only an evening information regarding fuel reserves published by API. On Tuesday afternoon trading Brent crude gaining more than 1 percent.
WIG20 again on the sidelines of the stock market in Europe
Przemysław Lawrowski
Even the way the session in a row WIG20 start small fluctuations. Meanwhile, stock markets in Western Europe, major indexes record growth. More than 1-percent profit can boast parquet in Spain, Switzerland and Italy.
Less than percent depreciating bank shares Pekao, which before the start of the session showed the report for the first quarter this year. For more on this, read money.pl.
more than 1.5 percent prognosis shares are banks ING, who also praised the results. Its net profit for the first quarter of this year is similar to that obtained in the previous year. In the first quarter of 2016 years it amounted to 259.2 million, against 261 million a year earlier.
The Polish stock market goes on Tuesday, slightly under the current Europe-wide trends. Most stock markets recorded increases. It copes well DAX, which gained despite the weak data on industrial production. In March, it decreased by 1.3 percent year on year, against the forecast decline of 0.3 percent. Our western neighbors also praised the figures for exports and imports. The first readings performed very well (published value of 1.9 percent, forecast: 0.0 percent), and the other disappointed (published value: -2.3 percent; forecast: -0.3 percent).
Behind us also weak data from France. Industrial production fell there in March by 0.3 percent, while the market expected a rise of 0.5 percent. Like Germany, the French stock market did not take over your information.
Pekao and ING reported results. Time to market reaction
Przemysław Lawrowski
For now, for major changes blue-chip index does not count, because the market is holding its breath before Friday Moody’s decision on the assessment of the creditworthiness of Polish. On Tuesday morning, investors will be interested in data banks Pekao and ING, which published its financial results for the first quarter of this year.
After Friday’s decline to the level of almost 1,820 points, WIG20 ended Monday’s session with 1,848 points.
Investors are discounting even the worst-case scenario for a decision of the rating agency. This means that they expect to not only reduce the rating outlook, but the whole evaluation. It seems, however, that after the January turmoil associated with the decision by Standard & amp; Poor’s, the market is ready for such a scenario. In the days following the decision of Moody’s investors can take to be buying stocks.
On Tuesday, the market there will be no economic data from the Polish economy, however, before the start of the session have been published the results of two large companies. Bank Pekao earned in the first quarter of this year, 573.5 million, compared to 624.6 million in the same period a year earlier. That’s about 8 percent less year-on-year, but you have to remember, the result is loaded with the new bank tax. Grew for the bank’s income, which amounted to 1.07 billion compared to 1.043 billion a year earlier.
The financial data for the first three months of the year also gave ING Bank Slaski. The company can boast almost identical net profit as last year. In the first quarter of 2016 years it amounted to 259.2 million, against 261 million a year earlier.
Looking at yesterday’s results PKO BP, you can have doubts about whether the relatively good reporting banks will appeal to investors. PKO shares lost 1.62 percent on Monday.
The report also showed gas distributor – the company Duon. The company earned $ 10.195 million, an increase of nearly 82 percent from a year earlier. Thus followed the larger PGNiG, which is also at that time reported record results.
Looking for information on a slightly wider range, before the start of Tuesday’s trading we will learn how to change the German exports and imports in March. If the predictions of the check, it will have to deal with the slowdown.
The data on industrial production before the session publishes France. According to the forecast index in March rose by 0.5 percent month-on-month. Before noon we will see similar data from Italy, and 10 will read the balance of foreign trade in the UK. Due to the issue of the referendum on a possible exit of the country from the EU, any economic data are heavily discussed at the forum.
In the afternoon, not planned any major readings from overseas. The second week of the month is traditionally a “rest” in the US after the release of data from the US labor market. More about Monday’s session on Wall Street wrote in money.pl
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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