The optimistic start to September in the WSE and WIG20 breaks the streak. Negative energy only

The session followed the monthly report presented by the United States of America on a wide range of data from the labor market. Their analysis suggests that the labor market “cooling off” necessary to stabilize price inflation is slowly becoming a reality. This leads to a “soft fall” rating, which is optimal for Wall Street. Indexes were growing there, and with them the investors on the Warsaw Stock Exchange, although most of them were based abroad, were buying more aggressively. And they were not afraid of recessionary data from Polish industry.

In addition, buying interest in Warsaw could have been greater, after Thursday’s weaker session than in the rest of Europe, further burdened by portfolio changes. Thus, the weakest month of the year ended on Wall Street on Thursday and the appetite for recovery dominated on Friday.

WIG20 rose by 1.16 percent, and WIG rose by 0.86 percent. up to 69,017.69 points. On the other hand, the mWIG40 index fell by 0.19 percent. To 5,181 points, the sWIG80 index rose by 0.85 percent. Up to 21243.31 points the turnover was PLN 875 million, of which PLN 681 million related to WIG20.

In the week’s balance sheet, the WIG20 and WIG broke a streak of four consecutive weeks of declines, thanks to increases in the approach of 2.53% and 2.53%, respectively. and 1.94 percent. mWIG40 rose 0.3 percent after two weeks of declines, and sWIG80 finally rose 1.42 percent after six weeks.

In terms of sectors, media companies (3.27%), mining companies (3.1%), and clothing companies (1.59%) performed the best on Friday, while energy companies performed poorly (-1.87%), whose only indicator was below the line. .

In WIG20, 15 companies rose, reversing Thursday’s crash. PZU shares rose 2.2 percent. and reached the annual maximum. The insurance company published its results for the first half of 2023 on Thursday, with its year-on-year net profit up more than 60%.

Among the basket’s leaders are shares of KGHM (3.33 percent), benefiting from more than 1 percent. Copper prices rise. JSW stock also performed well in the mining industry (2.24%). Crook was also among the leaders (2.8%). Interest rates for the three largest banks with Santander rebounding (2.15 per cent) were in the green.

Among the laggards, except for Alior (-1.14%) and mBank (-0.23%), there were also Allegro (-1.12%), Dino (-0.32%) and PGE (-0, 33%). In the context of the latter, there were media reports from the Gazeta portal, stating that there would be a change in the president’s position. Manual control of top positions in SP companies is nothing new, but it resonates across the sector.

In turn, Elena Gorunova, an analyst at JPMorgan, lowered the recommendation for Dino from “neutral” to “underweight”.

From the lower sectors, it is worth paying attention to other energy companies: Tauron (-4.04%) and Enea (-4.89%). In addition, we mention the company Azotee (0.48%), which has signed agreements with 13 financing institutions, according to which it has agreed to waive the application of selected terms and conditions of the financing agreements to the two companies Grupa Azotee and the Grupa Azotee police.

After very good results, AmRest stock rose (5.10%), and after the monthly data from the Sensor Tower portal, mobile game producers rose: Ten Square Games (2.44%) and Huuuge (0.97%). The annual records were improved by Grupa Pracuj (7.42 percent), which showed its results a few days ago, and from today it is included in the MSCI Poland Small Business Index. Kernel’s share rose slightly (0.18%), affected by the stock exchange’s controversy with the issuance of shares.

After the recent sell-off, the BAG exchange rate rebounded (37.84%), although no news about a possible bankruptcy appeared in official trading.

Michael Kopecky