Strong correction of banks. The greenery of Orlen and CD Projekt was not enough

2020-11-30 17:50

publication
2020-11-30 17:50

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The last session of November clearly differed from the market landscape from the entire month. The heroes of recent days have seen significant discounts, even the strong increases of Orlen and CD Projekt were not enough to offset them.

As much as 1.2 percent WIG20 quotations fell on Monday. It is worth adding that before the session there was a good chance for November 2020 to be the best month for WIG20. However, the correction was so strong that although the index ended November with an increase of 20.7%, it is a result of 0.2 points. percent lower than in October 2001. Nevertheless, WIG20 still has the best month in 19 years.

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The main heroes of this month were banks recovering drought after months. Even before this session, the WIG-Banks index was at 46%. plus. On Monday, however, banks played a major role in “sinking” the WIG20. WIG-Banks lost 4.6 percent. In the WIG20 composition, among the most declining were, shares of PKO BP (-5.7%), Alior (-5.3%), Santander (-4.9%) and Pekao (-4.4%). Only PGE (-5.5%) and PZU (6.2%) managed to catch up with the banks in terms of falls, which are closely related to the banking sector.

Three musketeers saved the index from major drops: CD Projekt (+ 7.4%), Orlen (+3.4%) and Allegro (+2.8%), JSW was also growing (+3.2%). however, its share in the index is marginal. Interestingly, both Allegro and CD Projekt did not shine in November, and in the morning Orlen itself was the greatest burden for the WIG20 … The company’s shares were cheaper after the announcement of the new strategy by nearly 5 percent Ultimately, however, the day was closed with high growth, investors’ attention was drawn, among others announcement of dividends above PLN 3.5 per share.

Other major WSE indices also performed poorly. The WIG went down by 1.2 percent, the mWIG40 by 1.1 percent and the sWIG80 by 1 percent. The turnover on the broad market amounted to a staggering PLN 2.5bn, which may be associated with the end of the month on the one hand, and on the other hand, the return of the Americans after the break on Thursday and the shortened session on Friday.

In mWIG, the strongest drops were recorded by Biomed shares (-18.1%). The company’s president, Marcin Piróg, resigned on Monday – the company informed in a press release. The duties of the president of the management board will be performed by vice president, Piotr Fic.

Another biotechnology company – OncoArendi ended the day with a decrease, but significantly smaller (-3.6%). Here the news of the day was the sale of shares by members of the management board headed by Marcin Szumowski.

AT

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