It was also the day of the Monetary Policy Committee’s decision-making meeting, which this time also left interest rates unchanged. There was a mixed mood among investors on European stock exchanges, PMI data for the service sector appeared on the market, which, however, was not surprising.
More attention could have been focused on macro data from the US, where, for example, the ISM services index fell far less than expected, and weak data from the labor market in the ADP report could be a precursor to similar data published Friday in the NFP. a report.
The dollar strengthened, Wall Street indexes fell, and commodity prices fell. Crude oil mainly, although crude oil inventories in the United States have declined, the state of the world’s largest economy has put downward pressure on the black gold.
In such an environment, the abbreviated weekend brought discounts on the local stock exchange, with trading volumes dropping from session to session. The greatest interest in trading may return only after the weekend, because this week there is only a Thursday session before investors. Most of the world’s stock exchanges closed on Friday.
WIG20 decreased by 0.93 percent. The WIG index was lower by 0.81 percent. In contrast, mWIG40 returned 0.77% and sWIG80 0.57%. The turnover was only 757 million PLN, of which 568 million PLN related to WIG20.
In terms of sectors, 12 of the 14 indices on the WSE Stock Exchange declined. Only WIG-Nieruchomości (0.15%) and WIG-Moto (0.05%) only moved up. The largest declines were recorded by WIG-Górnictwo (-1.9%), WIG-Odzież (-1.54%) and WIG-Banki (-1.27%).
In the WIG20, Orange Polska (2.69%) and Asseco (1.27%) were among the growth leaders. Shares of Cyfrowy Polsat, Kruk, PZU and PGE also rose, but by less than 1 percent.
Alior (-3.21%), JSW (-2.86%), LPP (-2.16%) and Pekao (-2.05%) were the most discounted in the sector. Other big banks were also in the red. However, most of them were traded on Dino (-1.54%), PKN Orlen (-0.54%) and KGHM (-1.77%). DM Bank BPS analysts in the April 5 report lowered the target price for Jastrzębska Spółka Węglowa shares to 71 PLN from the previous 74 PLN, but kept the ‘buy’ recommendation for them.
Below, it is worth paying attention to the share price of Ten Square Games (-3.46%), which reached a new annual minimum during the session and is the lowest since February 2019. DM BOŚ analysts lowered the valuation of Ten Square Games shares on the 12-month horizon to 120 PLN from 158 Formerly PLN, maintaining the ‘hold’ recommendation.
In addition, in this sector, the share prices of AmRest (-3.96%), Enea (-3.14%) and PKP Cargo (-2.69%) fell sharply after the results.
On the broad market, a large contract with PKN Orlen again, this time for nearly PLN 105 million, boosted the share price of Mostostal Płock, which will build a crude oil storage tank for the fuel giant. Warimpex (19.27 percent) posted another day of growth following East Value Research’s recommendation on Monday.
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