Warsaw (Puls Biznesu) – The WIG20 managed to exceed the 2,016 level reached in April and ended the day at 2,030, or nearly 1 percent up. The index gained over 2 percent this week. Investors were not discouraged by macro data published by central statistical office GUS in the afternoon. PPI fell in May by 4.8 percent month-on-month and rose only 0.9 percent year-on-year. Economists expected the decrease to amount to 2.8 percent. Bad data helped indices as investors could be sure than that the Monetary Policy Council will cut interest rates during its next meeting.
Pekao bank was the best performer among blue chips. Shares of Poland’s second largest bank advanced 3.1 percent, while shares worth PLN 145m (EUR 35.7m) changed hands. BPH, yesterday’s hero, lost 1.2 percent. The two banks will merge due to the transaction between their investors UniCredito and HVB. KGHM copper producer added for the third consecutive day after the company raised its dividend. TPSA telecom fell a little bit.
Sanwil was the best performer of all shares. It jumped 10.8 percent after the company signed agreement with PARP, entrepreneurial agency, to receive subsidy for innovative equipment. The investment will be worth over PLN 1.5m.
Poland/Stock market report