Stock digest Wednesday 18.03.24

Before Friday's trading session, there was a report from a company called Hindenburg Research. They said that LPP, a company, might not have really sold its stuff in Russia like they said they did. This made people sell LPP's stocks really fast on the Warsaw Stock Exchange. Other companies in the same kind of business also lost money, like Pepco, which went down by 2.2%, and CCC, which went down by 2.6%. But Allegro did really well and went up by 7.8%.

Overall, the stock market went down, with the WIG20 index falling by 2.5%, the mWIG40 index by 0.4%, and the sWIG80 index by 1.2%. In the second group of companies, Enea lost 8.1%, while Grupa Pracuj gained 6.4%.

The total trading was over 6 billion PLN, with most of it, 5.1 billion PLN, happening in the WIG20 index. In Europe, the big stock markets didn't change much. But in America, they went down, with the S&P500 going down by 0.6% and the Nasdaq going down by 1.0%. Lower inflation numbers in Poland in February helped the country's bonds. The interest rate on loans that last for ten years went down to 5.43%, while interest rates on other bonds went up again.

LPP also shared some early results for the last few months of 2023 and the start of 2024. They made 643 million PLN in profit, which was more than what people thought they would. We think this is good news.