Stocks report: Bulls beat the bears

The first days of the week were nothing special. Losses caused by the return of snap-election gossip on Monday were regained the following day and on Wednesday the whole market was pulled up by KGHM. Black clouds gathered over the Warsaw market on Thursday. Disappointing quarterly earnings reports from Agora and PKO BP shook investors' confidence. Among the biggest losers were TP, TVN and of course KGHM, the company that of late doesn't move with the market, but rather drags the market to move.

The good condition of the American and European markets had the WSE hoping for a better day on Friday, but everyone failed to predict how strong the bulls would prove to be. The bears' performance on the previous day was completely overshadowed. Almost everything investors touched was gold, especially among the companies of the WIG20 index, of which almost every one was up by a few percent, leaving the investors of the WSE in high spirits not only for the weekend, but also, perhaps, for this week.

Krzysztof Kowalczyk

WGI Dom Maklerski