Awl government wants to join the OFE in one fund. Such a vision is not frightened by the Polish stock exchange. Changes in the economy, what would it caused if such a thing will be postponed.
This is the moment information to all the features of gossip, unofficial and uncertain, but today’s article “Rzeczpospolita” about OFE merge into one, state management of potential concern. Not that state managers fared worse with a portfolio of securities, but because the level of nationalization of the economy have changed by leaps and bounds. A state manager is much worse manager than private. Read more.
Many large companies went to the government hand positions, and it bodes ill for the future of the economy. No, but for the moment the information in “Rzeczpospolita” is the only form of balloon test, and even if the threat is fulfilled it, and so the effects will be visible in a few years, and that the stock market too long perspective.
Investors are more interested in what Fed comes up with, ie. whether a rate hike will be in July or June, not what will be far-reaching consequences nationalize the policy by the government. Well, I think that it has affected the ratings of Polish, but … rumors should not have meaning only when it comes to a fait accompli.
Before today’s speech by Janet Yellen and data on US GDP markets froze in anticipation. Only small changes at low revs occurred both in Asia (read more), and take place in Europe.
After the sharp rally this week, Friday investors decided to allocate to rest or light profit-taking.
the German DAX lost one and a half hour session 0.1 per cent., and during the week increased by 3.5 percent.
the British FTSE100 lost only 0.01 per cent., and during the week gained 1 , 8 percent. Do not scare (yet?) Investor survey Brexit’owe worse. For the last four only one was dominated Unionists. June 23 referendum could bring a surprise.
Finally, the French CAC40 dropping 0.1 percent. (During the week increased by 3.5 per cent.) And the Italian FTSE MIB lost 0.3 percent. (+1.9 Per cent. In the week).
Among the largest companies in the euro zone suffer most today French Orange (-1.3 per cent.) And the German Volkswagen (-1.1 per cent.).
Warsaw in a weekend mood
in the same weekend moods are the players on the court at the Principe. WIG20 after less than two hours of trade to grow by 0.2 per cent. the small 138-millionths of speed. Market interest focused around Pekao (+1.2 percent)., Which from the beginning of the week after the administration deal with everyday decrease the information that Unicredit may want to sell his shares.
The second place in popularity with investors is PKN Orlen (+0.4 percent)., after the drop in the price of Brent crude oil below $ 49 in the wake of information that Canada after the fire resumes its exports.
Satisfied with the increase in copper prices by 0.6 percent. however, are the shareholders of KGHM (+0.9 percent.).
It is worth noticing an increase of more than 4 per cent of the share price falling since February 2014, and the shares integer. Note that the Shared Services Centre after the verdict of the court again will consider the offer, which integer was the most advantageous price, restored optimism shareholders. At least temporarily.
Exchange after the G7 summit and before the words Yellen
Jacek Frączyk
finished today summit of the seven most industrialized countries. Politicians fear Brexitu, putting it on a par with the threat of terrorism. Its probability is not decreasing, as evidenced by the number of polls this week. Today important speech Duchess Fed and verified data on US GDP for the first quarter.
It is now two key issues that dreaded investors in the world: the will to leave the UK the European community and the US Federal Reserve will raise rates in June.
the impact on the acceleration of decision in the latter case could have GDP growth largest economy in the world in the first quarter, which will be announced at 14:30. It will be revised as a result of initial forecasts so, according to preliminary data, 0.8 percent. annualized growth.
About 19:15 our time Janet Yellen will deliver his speech, which should shed more light on the term rate increases, ie. current markets are wondering whether the increase will occur in June (futures market on Fed rates Chicago gives the chance of 26 per cent.), or perhaps only in July (56 per cent. chance).
the first thing – Brexitâ ??  ?? u – zaprzątała minds debating in central Japan on top of the seven most industrialized countries of the world excluding China.
the summit ended on Friday morning our time. On Friday, they discussed the issues of climate change and energy, stability and prosperity of the Asian markets. According to summit participants ,, global growth remains at a medium level, below its potential, while all the time there is the risk of the low growth “.
Brexit on a par with terrorists
the conclusion of the summit was among 32-page declaration on Brexitâ ??  ?? u. ,, exit the UK from the EU reverse trends towards ever greater global trade, investment and employment, which calls. it is in the long term a serious threat to growth. “
Brexit was listed among the geopolitical conflicts, terrorism and the crisis of immigration, as a potential shock resulting from causes uneconomic.
the case of the referendum, despite the fact that muted after a series of better for unionists polls now coming back because of the four latest polls showed the two balance, and one was in favor of the separatists. A week before the trends seem clear and obvious – after all, one of the supporters of union polls advantage was even 20 points. percent. For the next three weeks a lot can still change and nothing is certain in this regard.
Japan again with deflation and other … Friday macro data
Missing in They turn out to be all the time the efforts of the Japanese authorities, aiming to achieve inflation. Sea printed yen did not give prices in April fell for the second month in a row, this time by 0.3 percent. in April. Last central bank’s inflation target (2 percent). Achieved there in March last year. Reprint does not benefit the economy, or does not implement the assumed (optimal?) Price increase.
Among the most important data we mentioned above, the US Gross Domestic Product (forecast annualized rate of 0.9 per cent. After the first quarter) 14 30, but equally interesting will be given regarding the deflator of GDP, the index reflecting how much of the change in GDP owes much to change prices. According to the forecasts had to amount to 0.7 percent.
Before the speech Yellen (19:15) at 16:00 will still index of consumer sentiment from the US, or index University of Michigan. According to forecasts, it is in the May edition of the increase to 95.8 points. with 89 points. a month earlier. If the estimates come true it would be one of the highest levels of this index since the crisis 2007 years. Above 100 points. He was recently in February 2004.
So good consumer sentiment is another contribution to inflation expectations, and thus the argument for raising interest rates sooner than later. With a weight of money is printed before the outbreak of the threat of inflation.
Yesterday’s data from the US labor market seem to confirm expectations of a good consumer sentiment. The number of people seeking first time unemployment benefits last week fell to 268 thousand. from 278 thousand. week earlier. Economists on Wall Street had expected here 275 thousand.
In addition, orders for durable goods in the US in April rose month-on-month by 3.4 per cent., After in March increased by 1.9 percent. mom, after adjustment of 0.8 percent. Analysts had expected orders to rise by 0.5 percent.
Against the background of such important global data seems like a leading indicator published by BIEC situation. The latest indication will be released at 9:00 am. Indicator was last at its maximum historical levels – last month reached the level of 163 points.
with regard to the schedule of events spółkowych can not forget the last day of trading of subscription rights series I (the merger with Bank BPH) Alior and the end of the records in the tender offer for shares of Magellan (after 68 zł per unit) by Madion Sp. o.o. Thursday’s valuation of the company is 66.22 zł. Magellan’s on Friday poured to the shareholders a dividend of 12.4 million zł (zł 1.85 per share).
The first day without the right to dividend record on Friday, shares in Pulawy (10.50 zł per share) and Wodkan (zł 0.20 per share).
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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