There were nerves, was also euphoria. Behind us is an unusual week on the WSE – Money.pl

There were nerves, was also euphoria. Behind us is an unusual week on the WSE – Money.pl

2015-01-09 17:13

Paul Zawadzki , an analyst Money.pl

Commentator economic developments and exchange. Followers of technical analysis, fundamental research supported by the financial situation of companies and rational approach to personal finance.

Author: Paul Zawadzki

Although the week ended today on the Warsaw Stock Exchange itself counted only four sessions, investors certainly can not complain about a lack of experience. After a fatal Monday and Tuesday free, the game definitely joined willing to buy shares. Thanks WIG 20 in the second part of the week was the highest since mid-December. At the end, however, again became nervous.

Today’s session was passing under the sign of the expectations of the most important in this week data from the economy, and more specifically two indicators showing the situation in the US labor market. Both readings were better than analysts expected.

The US unemployment rate in December fell to 5.6 percent from 5.8 percent in November, while the average of the forecasts of experts surveyed by Bloomberg was 5.7 percent. The non-farm payrolls during this time increased by 252,000. Here analysts predicted score of 240 thousand. It is also worth mentioning the revision of employment growth for November (from 321 to 353 000).

The optimistic news from the US labor market, however, did not improve the WSE. On the one hand, after two previous sessions very strong market was asking to for a while breathing. On the other, better-than-expected US data may raise concerns about the rapid increase in interest rates in the US. After the publication of the minutes of the last meeting of the Fed, investors were optimistic. Today part of this optimism has evaporated.

Not only Friday reassured investors a lot of emotions. There were also impressions during the three previous trading session on the Warsaw Stock Exchange. A week on the stock markets started badly. On Monday WIG20 lost almost two per cent, so that closed at the lowest level for over a year. It should be noted, however, that even stronger declines recorded the most important stock market indexes in Europe.

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The main reason depreciation of course Greece, and more specifically concerns about the rise to power of the opposite policy of austerity Syrizy strong will mean problems in relations with the EU, and may even lead to leave the euro zone by the country. Stock exchanges in Paris or Frankfurt on Monday lost about 3 percent, and more than 5 per cent exit Athenian ATHEX Composite made.

The National players had one day to catch your breath. On Tuesday, because of the Epiphany Stock Exchange did not work. Whims of investors after returning to the market were already far better. On Wednesday, the index of the Warsaw-listed blue chips went up by almost 2 percent. On Thursday, he added to the more than 2.3 per cent, so that was the highest since mid-December.

Although this week did not take the decision or the European Central Bank or the US Federal Reserve is just the most important issues the world’s central banks definitely warmed sentiment in the financial markets.

In the case of the ECB, investors speculated about the purchase of assets, which is likely to be announced after the meeting in the second half of January. Instead of questions, “ and” , investors now wondering what specific actions and on what scale announce Mario Draghi. This week, there was in fact an additional pressure on the ECB in the form of deflation (HICP) in the euro area. Prices in annual terms in Euroland fell for the last time at the end of 2009.

As far as the Fed is on Wednesday evening (Polish time) were presented notes from the last meeting of the central bank’s policy-makers. According to the minutes, the increases in interest rates in the US is unlikely to occur before the April meeting. On the market there are also voices that the first rate hike in the US do not have to take place also in the second quarter of 2015.

When home yard in this shortened week, not a day breakthrough emerged about the economy. It is worth noting, however the attitude of JSW shares outstanding, which on Wednesday went up by about 20 percent. On this day, the government presented a Polish mining recovery program. For a well-deserved attention to coping with the apparel industry companies or footwear. After the publication of the preliminary results of sales for 2014 years, climbed up among CCC shares, Bytom, or Monnari Trade.