Stock digest Wednesday 15.03.24

The trading day on Thursday in the local stock market didn't change much. The WIG20 index went up a little by 0.2%, and the sWIG80 index went up slightly by 0.3%, but the mWIG40 index stayed the same. Banks didn't do so well, and all the banks in the WIG20 index had losses. The biggest drop was in Pepco, which lost 3.6%. On the other hand, Orlen did the best, going up by 2.1%. In the United States, after they released data showing that prices went up more than expected in February, the main stock market indexes went down a bit (the S&P500 and Nasdaq both went down by 0.3%). In Europe, one of the stock market indexes, the CAC40, went up a bit by 0.3%, but another one, the DAX, went down a bit by 0.1%. The stronger economy in the United States made the dollar stronger, and the interest rates on US government loans that last for ten years went up by 10 basis points (to 4.29%). Interest rates also went up in Europe and in our country. Oil prices went up again for another day.

A new report from an American company called Hindenburg Research says that the LPP company might have pretended to sell its part in Russia but was still selling things there. We think this is bad news.

On the other hand, we think the results for the last three months of 2023 that Huuuge published are a bit good. Even though they made 8% less money compared to the year before, they still made $71.3 million. Their profit was also what we thought it would be. We also like hearing that they're planning to buy back more of their own shares. They want to buy about 10.6% of all the shares, and they'll pay about $38.5 for each share.