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- WSE: Mid session comment
WSE: Mid session comment
Indices of the Warsaw Stock Exchange record today declines in contrast to the indices in Western Europe, which have clearly increased. The balance of power in the market is dominated by a strong sell-off of shares of Pekao. Discount of Pekao reached more than 4 percent. The backfire of decrease in quotations of Pekao came also in other financial companies (PZU, PKO, Alior). The market has long speculated that the "re-Polonization" of the banking sector in Poland would take place just via PZU.
Noticeably loses the Polish zloty and this refers to the actual supply of PLN, not a response to changes in the eurodollar, which happens to be very stable today.
With the passage of time the pulse associated with Pekao slowly blurred, and the market seeing the stable pros in environment begins to mitigate imbalances. If we manage to finish the trading within level of 1,800 points or above, results of the session would be optimistic, but of course with an open risk for tomorrow's opening in reaction to what the global market will do after the message of the FOMC meeting.
The WIG20 ended the first half of the session at 1,793 points (-0.56%) and with turnover of PLN 403 mln, which almost half of it was made on the shares of Pekao.
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