Stocks report: WSE in trouble

The main index WIG20 has ended this week just over 2,300 points. The most interesting session took place on Wednesday when the WIG20 index fell 2.3 percent, the Hungarian BUX dove 4.2 percent while the Czech PX50 slid 3.5 percent. Central European markets were hit by US inflation data - prices increased more than expected, which made the chances of further interest rate increases more probable, so investors started to evacuate from emerging markets.

A small IT company, PC Guard, which went public recently, was the subject of much discussion when its shares jumped 60 percent on Wednesday and lost 25 percent on Thursday. Equities were just a toy in speculators' hands. The last big IPO this year was a disappointment. Shares of the chemical producer Puławy closed on their first day on the WSE at zł.51.10 - 5.37 percent below the issue price.

October will probably be the first month of losses for investment funds investing in Polish stocks after half a year of positive results. It could implicate a longer sell-off on the market.

Adam Łaganowski,

Warsaw Investment Group (WGI)