Banks cheer market
WSE investors continued to shore up banking stocks this week.
The relatively inactive WIG20 blue-chip index closed at 1,053 points on Thursday, with little turnover. Though down from Monday's 1,063.7 point opening, the only slight fall in the index proved that investors took a rational approach to the poorer performance of markets in France and Germany, and did not chose to rapidly pull out of the index, analysts said.
All eyes, like the week before, were on local events, particularly having focused on banks.
Investors took to heart news that the National Bank of Poland would likely decrease its 4.5% mandatory deposit levels for Polish banks to 2%, keeping the WSE's WIG-Bank index steady at 21,586 points at closing time on Thursday. The index opened at 21,583 on Monday.
Marcin Materna, an analyst BIG Bank Gdański, said lower deposit levels allow banks more liquidity and enable them to offer better service to clients. And what's more, the extra cash would prop up profit levels, a prime factor for any industry in the eyes of investors.
The relatively inactive WIG20 blue-chip index closed at 1,053 points on Thursday, with little turnover. Though down from Monday's 1,063.7 point opening, the only slight fall in the index proved that investors took a rational approach to the poorer performance of markets in France and Germany, and did not chose to rapidly pull out of the index, analysts said.
All eyes, like the week before, were on local events, particularly having focused on banks.
Investors took to heart news that the National Bank of Poland would likely decrease its 4.5% mandatory deposit levels for Polish banks to 2%, keeping the WSE's WIG-Bank index steady at 21,586 points at closing time on Thursday. The index opened at 21,583 on Monday.
Marcin Materna, an analyst BIG Bank Gdański, said lower deposit levels allow banks more liquidity and enable them to offer better service to clients. And what's more, the extra cash would prop up profit levels, a prime factor for any industry in the eyes of investors.
