TeleTrade - Analytics

    TeleTrade

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    08.03.2016 11:49 WSE: Mid-session Comment

    The situation in major markets remains unchanged. Ever since the session opening, pressure accumulates on the supply side. Fluctuations are indeed small, but persistent supply in the coming hours will likely be fueling bearish sentiment. The market has largely ignored the latter in the first phase of the session, but with the passage of time and the approaching opening of Wall Street this condition may be more difficult to maintain. Indeed, this also suggests that the observed revocation of market may continue.

    The list of declining stocks is headed, just as yesterday, by raw material suppliers. Among blue chips, the weakest company today is PKN Orlen (WSE:PKN), the largest Polish petrochemical operator. Share price lost more than 2.5 per cent., which after yesterday's strong growth and the breaking up of the 2-week consolidation may be cause for concern.


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