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05.10.2007 - Weekly Stock Markets Brief

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Date: 2007-10-05 16:24

Global equities markets remained pretty stable this past week taking into account the couple of important macroeconomic publications. Surprisingly, the Warsaw Stock Exchange’s benchmark index, the WIG 20, gained over 3.50% over the course of the week.

 

American indices started the week strong closing in green on Monday. The rest of the week was not so good. Worse than expected Pending Home Sales (-6.5%) report began the declines. The ISM publications did not help since they were as expected. The big news came as usual on Friday when the US labor market data was published. Non-farm payrolls increased by 110K against the 100K forecast. The shocking news was last month’s revision of the -4K reading to +89K.

The stable situation remained almost throuhgout the whole week. Till Thursday, the Dow Jones Industrial Average dropped 0.1% to 13,969 while the S&P 500 increased by 0.85% to 1,542. After the non-farm payrolls publication, both indices opened on Friday in green with the Dow up 0.57% and the S&P 500 0.60% higher.

The Polish major index, the WIG20, advanced 3.51% over the course of the week. It shoot up on Tuesday after the previous night’s US indices close. It kept over 3,700 and finished the week at 3,748. Sentiment of investors is improving and confidence is back on the Polish market. With the US indices going north, it is very probable the the WIG20 will continue to increase.


Adam Narczewski