Wide decline in WIG20 companies. A reflection of BAH falling and Kernel being removed from the WSE

This week, the attention of financial markets will focus on Wednesday’s decision of the US Federal Reserve, but it is not the only central bank in the world that will decide on interest rates in the coming days. Investors are facing a real marathon with central bankers, which means that caution and risk aversion are increasing. This was clearly visible in Europe, after a weak session in Asia (without the Japanese) and weak sentiment after Friday’s session on Wall Street.

In Poland, banks have contributed to the overall market weakness along with mining and energy, where questions about post-election scenarios and the future of NABE are increasing. The upcoming announcement of the government’s decision to extend the “credit holidays” is certainly the factor most taken into account in the context of banks. According to the Prime Minister’s words from a few weeks ago, the decision should appear soon.

As a result of a weaker session of key industries on the WSE, WIG20 fell by 1.58%, WIG was lower by 1.38%. In turn, mWIG40 decreased by 1.04 percent, and sWIG80 gave up 0.68 percent. The turnover exceeded PLN 793 million, of which PLN 655 million related to WIG20.

In WIG20, the shares of Kruk (-3.51%) and KGH (-3.68%) fell the most. Banks were clearly below the line with Alior falling by 3.46% and Pekao by 2.85%. or PKO by 2.39 percent Orlen also recorded a decline of 1.11%, and among large companies only Grupa Kęty (3.93%), Dino (1.51%), Asseco (1.09%) and JSW (0.23%). .) recorded an increase. The basket of the largest companies was characterized by a wide discount and a supply-side attitude of investors. The prices of 12 companies fell by 2 percent or more. In total, the shares of 16 companies were depreciated, of which only two lost less than 1%.

In the context of JSW’s growth, information about the government’s plans to build a new steel plant in Ruda Śląska could have been important. The JSW price dropped further in the morning when it turned out that for the first time since November 2021, the fund showed up in the short sale register with an official position on the decline in the price of JSW shares.

On the broad market, the most outstanding share was CIGames (20.13%), whose president announced that he maintained the forecast that the premiere of “Lords of The Fallen” would increase the company’s valuation by 3-5 times.

After reaching a historic low last week, the share price of Kernel rebounded (16.96%), while without any new information before and during the session, the share price of BAH, whose management filed for bankruptcy, gained significantly (15.86%). After the session, it turned out that the vice-president was leaving the management board after resigning.

After the publication of Votum’s results for the first half of the year on Friday, after the session on Monday, the price fell by 4.08%.

Michal Kubicki