Stocks report: Stocks inch up

Oil stocks helped a lot, as their sector index surged by more than six percent on the week. PKN Orlen gained 7.6 percent and Lotos nearly four percent.

Investors also favored IT and construction stocks, but their gains were much more limited. Food and banking shares finished the week in the red, but what's more important is that some serious profit taking could be seen among the most speculative shares. Some investors decided to cash in their profits, as capitalization of such companies reached unseen levels in many years. Selling pressure increased volatility and caused rapid price swings. Nonetheless, some companies managed to end the week up.

IBSystem, PPWK and Gant gained more than 20 percent. IBSystem announced that the company was looking for a partner in the construction area, as it wanted to refurbish four office buildings.

Among other companies, Bioton lost some ground, as a Canadian company discovered an alternative method for insulin production, which could cause a 40-percent drop in its price. This was negative news for Bioton, and pushed investors to sell the stock.

Tomasz Jerzyk, technical analyst DM BZ WBK SA