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- WSE: After start on Wall Street
WSE: After start on Wall Street
Published data from the national economy were not good. Virtually all surprised negatively, with the worst fall out of investments (the decrease in construction output by 20.1%). It did not help one working day less, but even after taking it into account the total production increased by 1.3% y/y. From the point of view of the Warsaw Stock Exchange, it is essential the poor performance of processing activities (down 0.5%). Better looks consumption but still disappointing. Moreover we may see rising of producer prices, which means the pressure on the profit margins of companies.
In general, the opening of the fourth quarter is weak. In the case of large companies (whose results are not so dependent on the domestic economy) it does not really matter, these data are more likely to affect the valuation of smaller companies. As we may see at the chart of the sWIG80, it stands out today with weakness and is close to the lows from Friday. There was also no correction on the Polish zloty, which may suggest a signal of changes in the quotations of our currency.
The American market began from a quite big increase. An hour before the close of trading in Warsaw, the WIG20 index was at the level of 1,753 points (+1,63%).
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