Stocks report: Indices on the up

The blue-chip WIG20 benefited the most, setting an all-time high on Friday.

The best-performing stocks were KGHM and TP, which gained more than 10 percent on the week. In the case of KGHM, buyers found the soaring copper-futures prices and an upcoming dividend comforting. TP started its zł.700-million share buyback, which helped the stock to soar. The buyback is scheduled to last until the end of the year or the zł.700 million is used up, whichever comes first.

IT and oil stocks gained the least. The former was influenced by the performance Sygnity, which unofficially downgraded its bottom line for 2007. As for oil stocks, they led the market two weeks ago and needed some rest. Oil prices are expected to go up, so oil stocks will probably follow.

Some extra volatility was caused by the expiration of derivatives on Friday, but last week was positive for equities and record inflows to mutual funds suggest further buying in upcoming weeks.

Tomasz Jerzyk, technical analyst DM BZ WBK SA