Stocks report: Oil and copper lift WSE

There was no obvious reason for investors to buy, but cash from retail investors still flooded mutual funds, and even amid relatively high stock valuations fund managers are forced to buy.

Most important for WSE indices were raw material future prices - crude oil and copper surged - and this helped to lift the prices of oil stocks as well as KGHM, the world's fourth largest copper producer. KGHM rose by more than 12 percent on the week and, among oil companies, Lotos shares were particularly strong, gaining nearly 10 percent.

IT shares were also strong, despite this sector having under-performed in recent months. In my opinion, the global perception of technology stocks has improved very much in recent weeks, which can be partly attributed to better-than-anticipated sales of Apple's iphones.

Top gainers on the market were Optimus and Elektrim, which added more than 34 percent and 26 percent on the week, respectively. Real estate and developers, as well as the food industry, were the only losers.

Tomasz Jerzyk, technical analyst DM BZ WBK SA