Stocks report: Falling short of 2,100
The WIG20 reached a level of 2,080 points, driven by KGHM, PKN and TPSA. Then the sentiment for stocks in the world markets, as well as in Poland, weakened with the WIG20 falling sharply to touch the first support at 2,020 points. The fall was, however, too strong to call it a correction and will surely threaten the bulls over the next days. The WIG20 has risen more than 10 percent over the last five weeks - all without any fundamental signals. The rise was driven by a few stocks, mainly KGHM, banks and PKN. The situation will be more dramatic if the WIG20 falls below the 2,000-points level. It would mean the uptrend is definitely over.
The last week saw three new stocks on the public market. Out of Opoczno and Decora - ceramic tiles producers - and Ambra, a wine producer and distributor, only Decora managed to give investors a positive, 6.3-percent return. The climate for the IPO market is, however, still very positive. This month Travelplanet.pl, an internet travel agency, sells its shares to the public. Venture capital fund MCI wants to capitalize on renewed demand for internet stocks by also listing Bankier.pl, a financial website. Before the end of August five companies already listed on WSE will try to sell their shares and six businesses are expected to launch initial public offers. More companies are expected to follow the trend of going public, a move that is very positive for the Polish capital market.
Adam Łaganowski,
Warsaw Investment Group (WGI)
The last week saw three new stocks on the public market. Out of Opoczno and Decora - ceramic tiles producers - and Ambra, a wine producer and distributor, only Decora managed to give investors a positive, 6.3-percent return. The climate for the IPO market is, however, still very positive. This month Travelplanet.pl, an internet travel agency, sells its shares to the public. Venture capital fund MCI wants to capitalize on renewed demand for internet stocks by also listing Bankier.pl, a financial website. Before the end of August five companies already listed on WSE will try to sell their shares and six businesses are expected to launch initial public offers. More companies are expected to follow the trend of going public, a move that is very positive for the Polish capital market.
Adam Łaganowski,
Warsaw Investment Group (WGI)
