WSE: Mid session comment

The first half of trading on the Warsaw market generated good turnover, however, the WIG20 index fell below yesterday's minimum. New lows do not look optimistic and point to the possibility of continuing the downward movement. Since the beginning of the session the main burden of the WIG20 remains Pekao (WSE: PEO), which course losing even 3.7 percent. The reason may be the end of the "lock-up" on the sale of shares of Pekao for Unicredit. In July, the Italian owner of the bank has sold 10 percent of shares and announced that he will not sell during the next 90 days.

To the group of the most losing companies - components of the WIG20 - joined the PGE, where supply again broke the round and the psychological level of PLN 10.

In Europe, we may observe considerable discounts, the German DAX lost about 1.2%. The main falling sectors are commodity companies, banks and automotive companies, the sectors particularly sensitive to the level of economic activity. Weak data from China intensified concerns about the condition of both the local and the global economy.

In the middle of trading the WIG20 index was at the level of 1,744 points (-0,92%), the turnover was amounted to PLN 305 million.