Stocks report: Markets upbeat

The WIG20 added 1.9 percent, while the WIG surged nearly three percent. The slightly weaker performance of the big-cap index was caused by oil companies, which were hurt by falling oil futures, which hit several-month lows this week. This put some selling pressure on those stocks, making oil stocks the only losing sector on the week.

The beginning of the week brought some selling, but on Thursday buyers entered the market and kept control till Friday's close. First off, it was copper futures prices which hit bottom on Tuesday and sharply retraced earlier falls. KGHM's recovery helped a lot. It had dragged down the main indexes in previous weeks.

The best performing sector was IT. Prokom, Computerland and Softbank rose by 12-13 percent, for no particular reason. My guess is that there is no election on the cards for 2007, which was seen as the main obstacle for these companies as no one wanted to settle big tenders ahead of voting.

Telecoms were also strong, and I think that Netia is an interesting pick. The company revealed more details about its 3G mobile services, which are to be launched in late March. Analysts are mixed about P4's prospects, but I hope that expected revenue growth will fuel some buying in coming months.

Tomasz Jerzyk,

technical analyst DM BZ WBK SA