Warsaw (Puls Biznesu) – Positive trends in Western European markets, the forex market, macroeconomic data and political events helped Polish indices today. WIG20 added over 2 percent to 1,868.00 points. Shares of blue chips worth PLN 550 m (EUR 130.9 m) changed hands, while on Monday it was only PLN 180 m.
The U.S. inflation data turned out to be better than expected. CPI without food and energy prices stayed unchanged although economists expected 0.2 percent. This may mean the end of interest rates raises in USA. Lower inflation makes U.S. bonds less attractive, which means that investors may find smaller markets, including the Polish one, attractive. In Euroland markets gained, too. Poland’s President Aleksander Kwasniewski announced parliamentary elections to be held on September 25th, and not in summer, which means several months of peace and quiet for investors.
TPSA telecom and PKN Orlen fuel giant were the most traded companies. Smaller companies were not in the scope of investors’ interest. MIDWIG, the index of medium-sized companies rose only 0.1 percent. Suwary, Jutrzenka, Milmet, Remak and Energomontaz Poludnie jumped but the volumes of trade were minimal (except of Jutrzenka). Alchemia, on the other hand, shed after it set the price of its new shares at PLN 3. Arksteel was the worst performer and fell 21.6 percent but in the two previous days it had gained over 100 percent.
(PLN 1 = EUR 0.238)