WSE: Mid session comment

Morning, preliminary readings of PMI indices did not arouse strong emotions. Industry data from Germany and France were slightly worse than expected, but the service sector showed better-than-expected level. The reading for the whole euro zone was better than expected in the case of industry and services. The data are calm in pronunciation and will quickly be forgotten.

In the first half of the trading, wave of supply in the major European markets brought the indices DAX and CAC40 to new session lows and declines exceeded 0.7 percent. Poorly behaves also contract on the S&P500, what may warn of a potential correction that may occur on Wall Street after the recent successes of the bulls.

Our market is still relatively stronger and remains over the line with a turnover approaching the level of PLN 400 million (the WIG index). This is a clear plus for the bulls, which may have a positive effect when European parquets will reach the bottom of the session and will start the process of rebuilding.

At the halfway point of today's trading the WIG20 index stood at the level of 1,779 points (+ 0,20%).