Stocks report: IT drives WIG20 higher
TP SA, the nation's largest telecom, rose more than five percent thanks to overall good sentiment for telecoms in Europe and a buy recommendation from ING. Prokom was very strong and profited from an optimistic earnings forecast for the second part of the year and a good period for companies owned by Prokom - Softbank and Bioton. Other telecoms and IT companies followed the trend - Optimus, Netia, Comarch and Softbank were also gaining.
After hitting a peak of 2,085 points, the WIG20 once again seems to be heading towards this year's high of 2,130 pts. Interest rates are currently at their lowest level in history, thus helping companies and increasing their valuation. If the WIG20 breaks through the 2,085-point level, the next move up should be very strong.
TP SA rose despite the anti-monopoly agency blocking the introduction of a new plan. TP SA's share price tumbled for a while, but rebounded very shortly thereafter.
The forgotten king of the WSE, Elektrim, was also very strong. The company said it called on Deutsche Telekom to sell Elektrim its block of PTC, owner of the Era mobile operator. If the deal is comes through it would own 93% of PTC.
The current market capitalization of Elektrim is about half of PTC's net profit last year, so if Deutsche Telekom is forced to sell PTC back to Elektrim, the company can return to its best times.
Adam Łaganowski,
Warsaw Investment Group (WGI)
After hitting a peak of 2,085 points, the WIG20 once again seems to be heading towards this year's high of 2,130 pts. Interest rates are currently at their lowest level in history, thus helping companies and increasing their valuation. If the WIG20 breaks through the 2,085-point level, the next move up should be very strong.
TP SA rose despite the anti-monopoly agency blocking the introduction of a new plan. TP SA's share price tumbled for a while, but rebounded very shortly thereafter.
The forgotten king of the WSE, Elektrim, was also very strong. The company said it called on Deutsche Telekom to sell Elektrim its block of PTC, owner of the Era mobile operator. If the deal is comes through it would own 93% of PTC.
The current market capitalization of Elektrim is about half of PTC's net profit last year, so if Deutsche Telekom is forced to sell PTC back to Elektrim, the company can return to its best times.
Adam Łaganowski,
Warsaw Investment Group (WGI)
