WSE: Before opening

Yesterday's trading on Wall Street ended neutrally, the S&P500 index ended the session with a modest decline of 0.06%, roughly the same increase in value in the morning we may see on the US index futures. The Japanese Nikkei go down approx. 0.6 per cent due to the stronger yen. In the morning also strengthened euro, suggesting that investors still do not believe that the Federal Reserve will be able to raise interest rates before the presidential election.

This situation may mean a neutral start of trading in Europe and the Warsaw market should begin the session at the well-known level of 1,800 points. In the macro calendar will be announced today the publication of preliminary PMI for European economies. Their impact on the market depends on the possible differences in the levels expected or data from a month ago, although we do not expect in this case any significant reaction.

This morning appeared unofficial information about the sale of the bank Pekao (WSE: PEO). The Reuters agency reported that the president of the PZU Group intends this week to talk with representatives of the Italian UniCredit on the possible purchase of Bank Pekao. There is also information that the Italian UniCredit has already decided that the 40.1-percent stake in Pekao will be put up for sale. Certainly, investors will not be happy, because it means the risk of another supply of shares. Traditionally, any such speculation cause declines in stock prices of Pekao, PZU and Alior (WSE: ALR) - controlled by PZU.