Record profits of PKN Orlen [Closer to the Stock Exchange]

Tuesday's session on the Warsaw Stock Exchange brought an increase in the main index - WIG20 ended the day nearly 1,5% above the reference point. Optimism on the domestic stock exchange may be related to the rebound of indices in China. In the United States, the index of investor sentiment is declining slightly, but there is still a cautious optimism prevailing on Wall Street - despite the forecasts of further Fed interest rate hikes.

Interest rate reduction?

In Poland, the yield on 10-year bonds is starting to fall, which may also indicate a decline in inflation expectations. These may be grounds for the fact that - as indicated by the market consensus - the Monetary Policy Council will start cutting interest rates in the first quarter of 2024. However, if it turns out that the level of inflation in Poland is falling faster than forecasts, then there would be reasons for the MPC to start signaling interest rate cuts during the current election year. Such a scenario would fuel the growth of the Polish stock exchange, which focused on the results of PKN Orlen during yesterday's session. The oil company recorded record profits, which it intends to share with shareholders.

We invite you to the next webinar Closer to the Stock Exchangein which Maciej Kietliński looks at the record profits of PKN Orlen.

In the latest webinar:

• Chance for MPC pivot?
• Current sentiment on Wall Street
• What do the key values ​​in Orlen's reports mean?

About the host

Maciej Kietlinski - professionally involved in the analysis of capital markets since 2017. He gained the necessary experience in such renowned companies as BGŻ BNP Paribas or Noble Securities. In his last place of work, he specialized in the analysis of listed companies from the dynamically developing gaming sector. He also gave stock exchange comments on TV Biznes24, Parkiet.tv or Inwestorzy.tv and for Forbes, Reuters, Parkiet, Gazeta Wyborcza and PAP Biznes. Kietliński also focuses on development, which is why he is currently working on a doctoral dissertation in economics at the Warsaw School of Economics. CIIA, Investment Advisor or Stock Broker.

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