Ready to play catch-up

After a poor May the mood picked up slightly in June – the shift in Donald Trump’s stance and the stronger economic data enabled the indices in the US to rise to record levels. The main reason was the expected end of interest rate hikes in the US. As a result, there hasn’t been such a good six-month period on the American stock exchanges for twenty years. The thawing of US-China relations at the G20 summit in June also represented a boon for buyers, and so the summer holiday period got underway with some optimism. The central banks – and not just in the US – are expected to want to sustain growth at any cost and so will start pumping additional money into the financial markets, providing a considerable incentive to buy shares. Although they have been rising, the WIG and the WIG20 have been looking a little pallid compared to other indices, in contrast to their rude health at the beginning of the year. The rises of 3–4 pct are four times lower than th