Data from the United States helped the largest companies listed on the Warsaw Stock Exchange.  An XTB cycle with a chance of a new peak?

A package of inflation data from the US supported stock markets. In Warsaw, WIG20 companies benefited from global sentiment. On the second line, the price of XTB stood out, which is close to a historical peak and with the opportunity, according to brokers, to improve it.

Wednesday was the day important US inflation data for investors was released. On the European stock exchanges, the indicators rose slightly before the appearance of new information on the market and accelerated when it turned out that the growth dynamics were below expectations, that is, the ratio was advancing. Anti-inflation. However, not all benchmarks were able to hold onto their gains, pulling back towards the end of the session. However, most of them are listed at multi-month highs, such as DAX, and others, such as CAC40 or FTSE100, at historical highs.

It was different in the case of WIG20, which is still far from any maximum. The dollar reacted to the US data, falling against major currencies, and rising commodity prices such as oil and copper. This combination, with the zloty also rising against the greenback, supported the lists of the largest companies listed on the Warsaw Stock Exchange.

In this ranking, the WIG20, with significant participation of the largest banks, has overcome the resistance of 1800 points, which may be a harbinger of continued growth in the near future, although these may also depend on global sentiment, which will soon form, among others, Before during the earnings season that begins in the US.

WIG20 gained 1.85 percent. WIG was higher, at 1.22 percent. In contrast, by 0.12 percent. mWIG40 decreased by 0.21 percent. sWIG80 fell. The turnover was PLN 1.25 billion, of which PLN 1.02 billion was related to WIG20.

In terms of sectors, apparel (3.03%) and banking (2.36%) gained clear advantages, while mining (1.94%) and gaming (1.92%) gained more than average. There were 6 sectoral indices with the largest decline in the automotive industry (-4.21%). Other rates fell by less than 1%.

“The market estimates a probability of 75 percent that the Federal Reserve will raise interest rates by 25 basis points in May and that this will be the last rate hike this year. Today’s data supports such a view and is of course positive for the stock market,” – said PAP Biznes analyst BM BNP Paribas Dominik Osowski.

He added, “The data from the United States was also positively grouped by the indicators from the core markets, which should also support the Warsaw Stock Exchange in the short term.”

According to the analyst, in the coming days, investors will focus on the results of American companies and assess the state of the local economy.

“The published results will show how deep the decline in corporate EPS (earnings per share) from the S&P500 has been. Forecasts are for approx.

In WIG20, Dino (-0.13%) and PGE (-0.22%) were only in the red. For Dino shares, this is the fourth consecutive session of decline.

The biggest rise was for LPP shares (4.47%). mBank (3.76%) or JSW (3.96%). The mining company announced that it had signed a loan agreement for PLN 1.65 billion. Thomas Kodney, head of JSW, spoke about the company’s good prospects in an interview with Parkiet.

It is worth noting that PKO (2.56%) announced that it wants to allocate half of its profits for 2022 to dividends.

In the second line, Millennium (6.19%) and XTB (7.46%) stand out. The closing price was 35.42 PLN and approached the historical peak of 36.90 PLN. On Wednesday, an update to DM Trigon’s valuation was also released on the market, which raised the target price for the shares to PLN 39.3. The company won’t publish its first-quarter report until May 8, but it tends to release its estimated results earlier, and investors, banking on positive information, may drive demand for the stock.

STS Holding rose the most (3.01%). In the first quarter of 2023, the company increased NGR, that is, the value of bets placed by customers, reduced winnings paid and taxes on games, by 12%. On an annual basis to PLN 175 million

On the other hand, by 5.05 percent. InterCars and Auto Partner shares fell 3.23 percent, retreating from their historic highs recorded on Tuesday.

Columbus debuted on WSE after moving from NewConnect, but the price is down 4.63 percent. Prosta Giełda, which debuted on the stock exchange on Tuesday, started trading on NewConnect. The exchange rate rose after opening trade by 269.86 percent. And he was arrested again. A total of 52,000 transactions were made. zlotys.

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