WIG20 index ended Thursday’s session in the not too good style. Insurmountable level was 1,800, above which the blue-chip index was only in the morning. Warsaw index slightly fell also in confrontation with other hardwood floors. The focus of investors were readings of PMI indices for the industry for August. In this ranking Poland coped better.
WIG20 index ended trade for a loss of 1.78 percent and was placed at the level of 1,761.68 points. Best in the European grid was Hungarian BUX, which gained 0.3 percent. The French CAC lost slightly in value, and the German DAX went down 0.7 percent.
The attention of European investors attracted by noon readings indexes PMI manufacturing for August. The data are also given for the Polish. Indicator calculated for the domestic industry amounted to 51.5 points, which indicates the development of this industry. It was also 0.6 percentage points higher than forecast.
In comparison to other European countries, Poland found itself in the middle of the pack. Best moods are industrialists from Germany. There PMI stood at 53.6 points in August. Behind them were managers from the Netherlands (53.3 points). On the other hand, the least coped economy of France and Italy. PMIs have reached there the value of 48.4 points. and 49.8 points. Good data recorded British economy, which resulted in an increase in the value of the local currency.
The mood at the end of the session turned sour US data. The ISM index for the industry, which shows the activity of this sector of the US economy has a value slightly less than forecasts and weak compared to the data of July. As a result, the dollar began to cheapen, and indexes on Wall Street after 90 minutes of trading lost about 0.5 percent.
Although the earnings season on the Stock Exchange has ended, but on Thursday morning with the Warsaw Stock Exchange investors have the opportunity to respond to company results published at the end of Wednesday’s session. Among them they were among Getin Noble Bank, which, although it earned a year earlier, but it did not meet market expectations. The company earned $ 1.13 million and, consequently, its share price fell on Thursday at 3.92 percent, which is one of the worst results in the index of medium-sized companies on Thursday. Lost a lot of the Ciech (-4.87 percent) and Comarch (5.08 percent), which also reported results yesterday.
Among small businesses should pay attention to Eko Export, whose shares soared on Thursday up more than 17 percent. Among blue chips, only three companies ended the session in positive territory. This is the CCC, PKN Orlen and Cyfrowy Polsat.
Wall Street met data from the industry in the USA
Przemysław Lawrowski
Although the publication of data of American industry, the major indexes on Wall Street do not record does not record at the start of Thursday’s session largely unchanged. At the end of the session weakly while doing WIG20.
Among the economies for which the institute Markit Economics published a reading of the PMI joined the United States and Canada. In the first case, the result is slightly weaker than forecast (published value of 52 points; forecast: 52.1 pts.), While in the second, the result improved compared to the data published a month ago (published value: 51.1 points previously .; : 51.9 pts.).
Read the PMI is not essential for American investors. The local market is more sensitive to the results of the ISM index, which according to the latest data, in August stood at 49.4 points, compared to the expected 52 points.
In addition, drifted across the Ocean Challenger report, which estimated the number of redundancies. The published value is significantly lower than July, which indicates the improvement of the situation on the labor market (published value: 32.19 thousand .; previously: 45.35 thousand.)
At the end of the session WIG20 index recorded 1.5 -percent decline. This is the result of much worse compared to other European indices.
We know the data on PMI. The reaction of the Warsaw Stock Exchange
Luke stick
index WIG20 only the beginning of Thursday’s session attempted to reach the level of 1,800 points. Market drifted series of corporate earnings.
The share of Getin Noble Bank investors are again paying the morning less than 50 cents. The Bank published the morning financial report for the first half – it turned out that the profit of the bank in the second quarter exceeded one million dollars. Although the bank improves its results, however, market expectations were higher.
Investors also learned the latest data on PMI in the European economy. In the case of Polish PMI rose to 51.5 points from 50.3 points a month earlier.
“Observed in August upturn in the Polish manufacturing was mainly due to the increase in the component relating to current production and new orders. Together they affected a rise in the PMI index by 1.1 points. ” – Gave economists Credit Agricole.
WSE: WIG20 still below the important level of
Luke stick
Under the sign of the publication of indicators of economic sentiment PMI in Europe expires on Thursday’s session on the stock exchanges. In Poland, investors still lack enthusiasm for that amount to the WIG20 index to above 1,800 points.
10.30 will be published data on the PMI, among others, in Germany, France, Poland, Spain and the euro zone. Investors know already reports about the August PMI reading in China. The result of 50.4 points was slightly better than the forecast of 49.9 points. On the Chinese stock market can be seen minimal decline in the main index Shanghai Composite.
In the case of Polish stock market still showing strong reluctance of investors to this, to support the WIG20 index in the order exceeded the level of 1,800 points.
It belongs to the WIG20 shares of clothing LPP price fell on Wednesday by almost 6 percent and now one of the paper now costs about 4.5 thousand. It is worth noting that since the beginning of the year the share price the owner of the Reserved brand had already fallen by almost one fifth. The company announced meanwhile development abroad: – In 2,017 years we enter new markets with the brand Reserved, in the second quarter, we will open the first store in Belarus, within two years a total of three, all in a format franchise – said vice-president Przemyslaw Lutkiewicz on the occasion of the publication of the results. LPP Group in the second quarter was 89.8 million profit compared with 136.6 million a year earlier.
On the European market are alive while the rumors about possible bank mergers. German media reported on Wednesday that Deutsche Bank is considering a merger with Commerzbank. Reports had an impact on trading reflection of both institutions. However, they were denied by the President of the Deutsche Bank. Possible ownership changes in the German market would have an impact on the Polish market – Commerzbank is in fact owns about 70 percent of the shares of mBank listed on the Warsaw Stock Exchange.
Before the end of the week, investors should still pay attention to the reports that will flow from the US . They will address the situation on the labor market – we will know the data on the latest unemployment rate (forecast 4.8 percent), as well as changes in the level of employment in the private sector in August. This information will be observers for the market another excuse to speculation about interest rate hikes in the US.
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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