WIG20 is the European leader. Allegro and KGHM “did the job”

2020-11-20 18:00

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2020-11-20 18:00

photo: Tomasz Ras / Puls Biznesu

The Polish stock exchange clearly stood out from the others. This is primarily the effect of a rebound on Allegro and the successful session of KGHM.

As much as 1.7 percent. grew on Friday’s WIG20 session and thus reached the highest levels since August. This result clearly distinguished the Polish index from the European background, because although green was also dominant on the other floors of the continent, the increases rarely exceeded 1%. Wall Street entered the day neutrally.

Where does the strength of the WIG20 today come from? It can be found in the companies themselves, rather than in a wider trend. It is worth noting that while the WIG also went up by more than 1 percent, it was mainly driven by large companies. mWIG40 ended today’s session “only” 0.4 percent. above the dash. sWIG80 gained 0.8 percent. The turnover on the broad market amounted to PLN 1.1 billion.

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18The excellent WIG20 result is mainly due to the two companies that jointly scored 1.5 points. percent index increase. We are talking about Allegro and KGHM. The first after a series of seven downward sessions, yesterday returned to green over 6%. plus point. Today it raised the rate even more and ended the day with 8.9%. above the dash. The largest company on the WSE in recent days is characterized by very high volatility, which is most likely related to the strong warming up of the company’s valuation on the one hand, and on the other hand, the ongoing struggle for the parcel machines market.

KGHM, in turn, after yesterday’s declines after the publication of results, today gained nearly 5%. Let us remind you that by how much The company’s net profit disappointed, the operating data looked better than expected. Perhaps the investors assessed the report coolly. A large share in today’s increases probably also had more than 2%. copper price rally.

Apart from the aforementioned two, 10 other WIG20 companies also recorded increases, but their impact on the index was much smaller. This group should be distinguished primarily by an increase of 4.1 percent. Santander and nearly 4 percent. JSW’s increases. The latter company showed results clearly better than expected. Although the company had to seek help from PFR (to maintain the level of investments) and complains about coal prices, it showed strong results in the coke segment and reduced costs a bit.

On the downward side, PGNiG stood out above all (-3.1%). It was also worth paying back to another fuel company, which about 3.5 percent. Weighed down on the index during the session, but managed to close the day only at 0.5%. minus. We are talking about Orlen, who announced after the session that will buy the OTP company, the largest road carrier of liquid fuels in Poland.

On the broad market, attention was paid, inter alia, to nearly 10 percent Ferro increases. Group recorded a net profit of PLN 23.6 million in the third quarter of 2020 attributable to the shareholders of the parent company compared to PLN 14.5 million a year ago. The analysts’ forecasts were in the range of PLN 13.9-16.3 million. On the other hand, by nearly 5 percent. after the results PCC Exol was cheaper.

Adam Torchała

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