WSE: Mid session comment

The positive hero of today's session on the Warsaw market is the coal company JSW. After yesterday's quotations, the company announced an agreement with bondholders vs. repayment of the securities at PLN 1.3 billion. Today, the company's management presented the main assumptions of the restructuring of the JSW group and its results for the first half of the year. Till 2025, through the implementation of about 130 savings initiatives, the group is expected to reduce operating costs by a total of approx. PLN 1.6 billion (excluding the effects of the agreements with the bondholders in February and September 2015). As a result, the company's shares rise more than 18%. In conjunction with the good behavior of companies Sanok (WSE: SNK) and Forte (WSE: FTE) after the publication of the results it leads to rise of the mWIG40 to the new year's maximum. The index of blue chips supported today by stronger behavior of exchanges in Euroland and return to the game of investors from London also presents much better itself, reaching in the halfway point of today's trading the level of 1,800 points (+1,29%) with the turnover of PLN 286 mln.