Budimex and Kęty Stocks Reach New Record Highs
Budimex and Kęty have emerged as the stars on the Warsaw Stock Exchange today, with their stocks soaring to new historic highs. Budimex’s shares have seen an impressive 11.44% increase, reaching 467.50 zł, and are expected to surpass 483 zł. This surge in Budimex’s stock is in response to the news that the company will soon be included in the MSCI Poland index. Kęty also achieved new highs, with a 0.95% increase to 741 zł, aided by changes in the indexes. Kęty will become a part of the Polish MSCI Poland Small Cap index. However, not all stocks are seeing these positive gains. Kruk’s shares have dropped by 0.78%, despite exceeding financial predictions and reporting strong second-quarter results. Kruk’s revenue, net profit, and EBITDA grew significantly, beating market expectations. Despite these impressive results, the company’s stock continues to experience a downward correction. The WIG20 index has also experienced a slight decline, as weak global stock markets and a slow start on European exchanges weigh on investor sentiment. However, the focus on global stock market conditions may turn investor attention back to the Warsaw Stock Exchange. The release of US producer price index (PPI) data later in the day could have a significant impact on the market, particularly if inflation is lower than expected. A lower inflation rate could signal that the Federal Reserve has finished raising interest rates, leading to a positive session on Wall Street and improving sentiment on the Warsaw Stock Exchange. While the WIG20 index has declined, the mWIG40 index has seen a 0.44% increase, boosted by Budimex’s performance and a rise in CI Games’ stock. The sWIG80 index remains steady, with companies like Vercom and DataWalk seeing growth, while Captor Therapeutics experiences a significant decline in stock value. Additionally, Trakcja’s stock has risen despite the company reporting weak financial results for the first half of 2023. Finally, Agora’s stock experienced a significant increase yesterday, breaking out of a three-month consolidation pattern and potentially opening the door to further gains.
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