WSE session on February 22nd.  Artificial intelligence boom also in Warsaw.  Orlin loses after his results

Investors had been waiting for this moment in anticipation, but contrary to fears, Nvidia's results exceeded Wall Street's expectations, and the AI ​​boom was defended (for now). Optimism spread from abroad to most global stock markets. Today, Japan's Nikkei index broke a record unmatched since 1989. Chinese companies recorded the strongest growth since 2020. Germany's DAX rose by 1.44% and France's CAC40 rose by 1.22%.

US indices moved north just after stock markets opened. The S&P 500 once again broke the 5,000 level, rising 1.6%. Today's stock market champion – Nvidia – is growing by more than 15%.

Meanwhile in Poland

Today, the WIG20 rose 1.49% and set a new bull market record of 2,447.32 points. Counting from the bottom in October 2022, which was set at 1,337.71 points, the main index of the Warsaw Stock Exchange has already gained more than 1,100 points, or nearly 83%.

WIG broke the all-time record by ending the session with a score of 82,464.52 points, up 1.29%. MWIG40 and SWIG80 rose 0.72% and 1.25%, respectively.

Today, turnover on the Warsaw Stock Exchange reached PLN 1.7 billion, of which PLN 1.44 billion was linked to the WIG20. Today, the trading value of Orlen shares alone has reached PLN 322 million. Sales of PLN 197 million were achieved through PKO shares, and PLN 193 million through LPP.

WIG20 – last 3 months (Bankier.pl)

Heroes of the session on the WSE on February 22

Orlin was in the spotlight today thanks to the presentation of the results of the fourth quarter of 2023, which were discussed in detail on our website by Michal Kopecky in the text “Orlin sales are greater than the budget revenues from VAT and VAT. Daniel Obajtek's last dance.

The Płock concern generated net profits of PLN 7.3 billion, which means a 55.6% decrease year-on-year. However, we will have to wait until April 25 to get the consolidated and audited annual report. Orlen prices lost 2.22% and was the only company from the WIG20 index to end Thursday's session in the red.

LPP, in turn, turned out to be the most rising company in the blue-chip index of the Warsaw Stock Exchange. Shares of the clothing giant rose 6.84% today. Paul Bizniso ​​noted On Thursday, HSBC Bank analyst Bulent Jardogal updated his recommendations for Polish companies from the consumer goods sector (in the table below), raising the price target for LPP shares to PLN 20,000.

Scroll to see the entire table

New recommendations from an HSBC analyst

a company

recommendation

Target price in PLN

former

Loss prevention

He buys

20000

16000

eurocash

Catch

17

17

dino poland

He buys

500

450

Bibco

Catch

22

20

Allegro

He buys

42

42

CCC

Catch

60

40

Source: Boulos Businessou/Bloomberg

On Wednesday, the general public also had access to a Noble Securities note, which raised the price target for LPP to PLN 19,282 (from PLN 16,795), while maintaining a “buy” recommendation. At the beginning of February, mBank's brokerage office also increased the target for the company's shares to PLN 20,000.

The second highest profitable company during Thursday's session was Allegro, whose prices rose today by 6.24%. The company's shares may have been affected by new data released by the Central Statistics Office on retail sales for January, which turned out to be better than economists' expectations.

Pekao shares rose by 1.22% after publishing the company's results for the fourth quarter of 2023 and announcing a dividend of PLN 19.2 per share.

The strength of banks was highlighted during today's session through the rise in Alior and Santander shares, which strengthened by 2.72% and 1.88%. Yesterday, the Polish Financial Supervision Authority recommended that dividends paid should not exceed 50% of profit (in the case of Alior Bank) and 75% of profit (Santander).

In the second row of companies from the MWIG40, attention was drawn to CCC shares, whose price rose by 5.47%. Today's SWIG80 kings are BOŚ and Erbud. Ochrony Środowiska Bank shares rose 11.93% during Thursday's session and more than 30% during the week.

Irbud city prices increased by 10.9%. Today, the company announced the signing of a contract worth PLN 358 million, under which it will build a production hall for offshore wind energy towers.

Energy, this time nuclear, also led to a rise in Prochem shares, which rose for the second session in a row. On Thursday, the company's prices rose by 16.67%, after the information it published the previous day. According to it, Prochem is in negotiations with Bechtel to obtain support services in obtaining permit documents for a nuclear project.

In terms of sectors, Thursday’s session included the clothing industry (+6.46%) and the automobile industry (+2.64%). They only lost fuel (-2.18%).

Macro shortcut

From a macroeconomic perspective, on Thursday we learned preliminary PMI readings from the Eurozone, which indicated that Germany remains a “brake” for Europe, while a recovery is beginning to take shape in France. In Poland, retail sales data came as a positive surprise, rising by 3%. However, the prosperity on which Polish GDP depends remains invisible.

Tomorrow at 10.00 the Central Statistical Office will present the unemployment rate in Poland. On Friday, we will also know the final German GDP result for April last year and data on real estate prices in China.

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