Successful attempt

Successful attempt

Those analysts who predicted that a successful attempt to cross the WIG-20 index barrier of 1700 points would be made in February proved correct

The "blue chips" index crossed its previous high on February 17th, closing at a record 1746 points. The universal WIG index closed at an all-time high of 23,493.64 points on February 17th. But despite reaching these record values a correction in the imminent future is forecast by analysts. Companies published their 4th quarter results at the same moment, with market changes not being the same for all; some rose in price while others slumped. The market is evidently being affected by politics, with concern rising as the Hausner's Plan approaches settlement, the related nervousness on the currency market affecting stock market behaviour. The February 23rd trading session witnessed construction company shares behaving better than other sector companies, though construction business experts suggest the growth displayed by several companies is of a somewhat speculative nature. GUS has remarked that the Polish construction business, regretfully, leaves a lot to be desired. Construction and assembly performance in January witnessed a 9.5% y/y and 0.5% m/m drop, which has spurred economists to display concern since it only goes to show just how low the level of investment still remains.

Contributed by:

Mirosław Kuk