A new record for the bull market. After the May weekend, investors came back hungry for risk

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An exceptionally long May weekend is behind us. Although the Warsaw Stock Exchange was closed on Thursday, the turnover of just over PLN 300 million that day shows that investors returned to the market seriously after five days off. And they did it with a bang.

One hour before the end of Monday’s session turnover has already exceeded PLN 1.1 billion. There is an inflow of cash, which is largely used to increase share prices, especially of the largest companies on the Warsaw Stock Exchange.

The WIG20 index is 2.5 percent. positiveand at its peak its ratings reached 2,539 points – the highest level since the beginning of 2018.

DM BOŚ analysts note that this is new bull record.

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Among the 20 largest companies, all are gaining in value. The most popular is Allegro, whose quotations are close to 10 percent. higher than in the last session. Over 4 percent LPP and CD Projekt shares also gain. The smallest beneficiaries are holders of PKO BP and PGE shares – about 1%. profit.

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Other leading European stock exchanges can only dream of such a result as WIG20. The prices there are also green, but the increases are at a maximum of 1%.

According to XTB analysts the positive mood on the Polish stock exchange can be attributed to the optimistic information presented at the end of last week in the USA. Reading from the labor market in the United States turned out to be lower than expected, which again focused investors’ eyes and hopes on interest rate cuts, the probability of which decreased significantly after the latest inflation data.

“They can be an additional positive catalyst signals from the European Commission about the completed rule of law study in Poland. According to the EC, there is no clear threat to the rule of law in Poland. This will result in the end of the procedure under Article 7. Treaty on European Union on May 21. Thus, for investors, this may mean increasing the stability of our country in the international arena,” XTB experts point out.