Stocks report: Bulls active on the WSE
The possible BPH takeover by Pekao SA still influenced the prices of banks; PKN and KGHM were also among the strongest stocks. The WIG20 closed the week above 1,930 points, already seven percent higher than during a low three weeks ago. Volume was also higher, confirming a positive sentiment for stocks.
The Treasury Ministry said last week that PGNiG will go public later than expected. This helped stocks to regain from a sharp fall on Wednesday. The market reacted very negatively but strong US and European equity markets helped the WIG20 to bounce and beat new highs. Buy signals are overpowering a possible further economic slowdown this year in Poland.
KGHM was one of the largest winners last week. The company's management is under pressure to pay higher than expected dividends. KGHM had a zł.1.4 billion net profit last year, which yields an EPS of zł.7. The potential for high dividend caused a seven-percent hike in KGHM's stock price during the week.
Lena Lighting, a new company on the WSE, showed there is still room for new businesses on the market. After a successful IPO, the share price rose, giving hope for a good Lotos start on the WSE next week.
Adam Łaganowski,
Warsaw Investment Group (WGI)
The Treasury Ministry said last week that PGNiG will go public later than expected. This helped stocks to regain from a sharp fall on Wednesday. The market reacted very negatively but strong US and European equity markets helped the WIG20 to bounce and beat new highs. Buy signals are overpowering a possible further economic slowdown this year in Poland.
KGHM was one of the largest winners last week. The company's management is under pressure to pay higher than expected dividends. KGHM had a zł.1.4 billion net profit last year, which yields an EPS of zł.7. The potential for high dividend caused a seven-percent hike in KGHM's stock price during the week.
Lena Lighting, a new company on the WSE, showed there is still room for new businesses on the market. After a successful IPO, the share price rose, giving hope for a good Lotos start on the WSE next week.
Adam Łaganowski,
Warsaw Investment Group (WGI)
