The WIG20 ended Friday’s session at 2,566.19 points, its highest level in 1.5 months, up 0.73%. The WIG and MWIG40 indices also posted strong gains, rising 0.61% and 0.43% respectively. The SWIG80 Small Cap Index was close to the benchmark, losing 0.03% on Friday.
The turnover on the Warsaw Stock Exchange amounted to PLN 965 million, of which PLN 810 million resulted from transactions on shares of companies included in the WIG20 index.
WIG20 Index YTD (Bankier.pl)
On the macroeconomic front, Friday was not full of many important events, but one of the most important was the University of Michigan Consumer Confidence Index – a measure of US consumer sentiment that has been compiled monthly since 1991. The June reading showed a decline from 68.2 to 66 points. It was clearly below the expectations of 68.5 points.
Combined with Friday’s drop in US inflation expectations to 2.9% in July, the information provides additional evidence for the market, which is looking for confirmation that the first US interest rate cut will come in September. US stock markets opened Friday’s session with strong gains.
At 17:00 Polish time, the Nasdaq100 and S&P500 indexes were up 1.06% and 0.81% respectively. After the start of the US session, European stocks rose significantly. The main stock indices of Germany (DAX) and France (CAC40) were up 1.16% and 1.35% respectively, at 5 pm.
Top Companies Friday Session on WSE
Friday’s session on the stock market was undoubtedly CD Projekt’s, which rose as much as 5.70%.On July 12, Nationale-Nederlanden PTE – the manager of Poland’s largest pension fund – became known as the company’s shareholder with a stake exceeding the 5% threshold. The leading WSE-listed game producer has been on an upward trend since the beginning of the month. Since July 1, CD Projekt’s share price has risen by 12% and is currently at its highest level since September last year.
Among the companies included in the WIG20 index, prices also stood out. L B BWhich rose by 2.70% on Friday. The General Meeting of Shareholders decided to distribute a dividend of PLN 610 per share. PLN 1.13 billion will be allocated for this. Payment will be made on October 30.
The biggest drag on the blue-chip index was stocks through most of the session. JSWwhich was reacting to reports on Thursday about a decline in Chinese steel production using coking coal technology. The company issued a press release confirming that the events in China did not affect its business because it did not export coal to Asian markets. Ultimately, JSW prices ended the day with a small loss of 0.28%.
Shares of Poland’s largest banks were down for most of Friday’s session, but almost all managed to recover by the end of trading. Prices remain in bear territory On the other side (-0.83%) I peacekeeping operation bb (-0.13%). The first company mentioned was the weakest in the WIG20 index on Friday.
Among the companies listed on the following Wall Street stock exchange, the stock movement attracted attention. agoraWhich rose 5.38%. The company’s prices were likely helped by a report on Friday from brokerage house BDM, which maintained its “buy” rating and raised its target price on the shares by PLN 10 to PLN 14.60.
Quotes Rainbow Tours It rose 4.26% on Friday, after two major shareholders decided to sell large amounts of shares. These types of transactions are usually accompanied by price drops, but this time the market reacted differently. This was probably because demand for the shares offered greatly exceeded supply and shareholders increased the pool of shares offered from 500,000 to as much as 760,000.
Share the price BKB Cargo It grew by 5.64% on Friday. The company announced in an ESPI announcement that its chairman, Dr. Marcin Wojciechowski, bought another 2,000 shares on July 12 at an average price of PLN 16.33. Previous purchases brought him criticism from a part of the commentary and the attention of the Polish Financial Supervision Authority, and we wrote about it in the text “PKP Cargo is still high. The chairman made money from the company, but not from the shares. ”
However, the news from PKP Cargo does not end with the next share purchase by the president. On Thursday, the Prosecutor General’s Office announced that it had withdrawn the indictment against the company’s former management and supervisory board. On July 11, we also learned that PKP Cargo won the tender for the transportation of steam coal from LW Bogdanka for Enea. The total value of the bids is PLN 138.4 million.
Looking at this sector, the strongest industrial indices on Wall Street on Friday were WIG-Gry (+3.96%), WIG-Odzież (+2.81%) and WIG-Leki (+1.71%). The weakest were WIG-Media (-0.60%), WIG-Chemia (-0.37%) and WIG-Spożywczy (-0.10%).
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