Warsaw (Puls Biznesu) – Decreases on Western European markets and disappointing macro data caused decreases of Warsaw indices, but WIG and WIG20 hit new records after U.S. markets rose.
The December industrial production data published by the central statistical office GUS discouraged investors. Analysts expected 8.6 percent growth but in fact it amounted to 5.7 percent only. However, the Wall Street opened high. U.S. indices were followed by their Euroland peers, and WSE. WIG20 ended at its new record of 3,457.94 points. WIG ended above 54,000 points for the first time in history (48.19 points higher). MIDWIG fell 0.3 percent while WIRR dropped 0.7 percent.
TP telecom rose 2.4 percent to PLN 26.4, KGHM added 1.7 percent to PLN 88.95. BRE Bank was the only bank which failed to grow on Friday. It has had a very good week, however. Although it lost 2.9 percent on Friday, it has gained 15.7 percent this week. TVN media group has been rising all week long and ended at PLN 28.3, close to the target price of PLN 28.4 in the recommendation issued by UniCredit CA IB. This week, the stock has advanced 14.6 percent. Netia telecom was one of the worst performers this week. The stock has lost 3.8 percent.