Political uncertainty throughout Western Europe created worry for investors in late April, causing stocks to open lower on Monday, April 23.
The collapse of the Dutch government as well as uncertainty surrounding the French presidential election sent shares lower across Europe, with both the overall WIG and blue-chip WIG20 falling about 2.5 percent by closing.
On Tuesday, European markets got a little relief as debt sales on the old continent were well received, pushing bond yields lower. Strong corporate earnings for big US manufacturers also added some momentum, with stocks regaining some of their losses from the previous day.
Both the WIG and WIG20 gained about half a percent, with TVN (up 3.08 percent) and JSW (up 2.99 percent) seeing the largest gains.
Stocks continued their climb on Wednesday. Despite a lackluster start and some poor data being released, Polish stocks fed on positive comments from US Federal Reserve chairman Ben Bernanke in the late afternoon, after he pledged additional support to aid the US economy. Both the WIG and WIG20 closed about a quarter of a percent higher.
On Thursday, Polish indices outperformed most of their European peers, feeding once again on strong corporate earnings as well as better-than-expected overseas housing data. Finally, on Friday April 27, the WIG closed up 1.57 percent.
WBJ market analyst
From Warsaw Business Journal
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