Further drops were recorded during the Friday’s session on the Warsaw Stock Exchange. Whereas in on a weekly basis, the discounts of the main indices exceeded 4%. – the most in a year.
– Friday brought a worsening of already disastrous moods on the Warsaw Stock Exchange. The ending week was the worst for WIG in a year, commented Szymon Nowak, analyst at DM BNP Paribas Bank Polska, on the Warsaw Stock Exchange.
Why is the WSE doing so poorly lately? Experts point to the weakness of the zloty and hence to the flight of investors towards the dollar.
See also: Polish zloty in trouble. We know the comment of the NBP president
Biggest losses since November 2020
Weekly losses of major indices WSE are the largest since November 2020. The WIG20 fell the most by 4.67 percent, the WIG went down by 4.35 percent, and the mWIG – by 4.5 percent.
Although the Warsaw stock exchange is declining sharply, the main European indices are also declining – albeit rather moderately. The sentiment clearly worsened after information from Austria, which intends to introduce a full lockdown from Monday, also for vaccinated people. This has spawned speculations that other European countries may follow Austria as the epidemic continues to deteriorate across the continent.