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  • Quotes - 2016-04-30

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    Original URL path: /en/analysis/quotes/scope/all (2016-04-30)



  • Charts - 2016-04-30

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    Original URL path: /en/analysis/charts/scope/all (2016-04-30)


  • Scenario analysis - 2016-04-30

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    Original URL path: /en/analysis/scenario/scope/all (2016-04-30)


  • Continuation of the decline or return of the bull market?
    data you can find several arguments for possible increases in the stock market At the beginning of the last week of July the German institute IFO has published the results of its monthly survey of German business expectations as to the development of the economic situation in their country Calculated on this basis Buissnes Climate IFO index rose to 108 points from 107 5 in the previous month expected to decline to 107 2 Importantly due to the higher indicator this ratio is measured in an upward trend as 6 months moving average index which historically often corresponded with increases among others on our domestic market represented by the WIG index Although the indicator is based on the opinions of German entrepreneurs it is also important for our market This is due to economic ties Germany as our main trading partner as well as the role of the economy across the Oder River European locomotive for prosperity on our continent Figure 1 IFO Business Climate Indicator against the WIG Index Source Calculations based on data from stooq pl Analysis of the above graph as well as the historical ties between IFO Buissnes Climate and WIG allow to argue that the economic outlook is drawn in positive colors and it should also affect earnings as earnings growth contributes to improving the attractiveness in the longer term share prices of companies Good prospects for European economic situation seems to be confirmed also published at the end of July in a series of indicators of ESI Economic Sentiment Indicator by the European Commission They measure economic trends for individual countries of the European Union as well as for the entire region From the published data we can draw a conclusion of the improving situation in the European Union and the Euro area The indicator for the Eurozone rose to 104 from 103 5 in the previous month What is equally important the trend remains upward A small flaw can be observed in the diagram which is lower than the month before in the ESI index for Poland but it can be a subject to concerns about the future direction for the country associated with this year s parliamentary elections In my opinion more important are the indicators for the whole of Europe or the euro zone unless the weakness of indicators for our country will persist for a longer period of time ESI for the European Union remains in an uptrend which historically confirmed to climb to the new heights of WIG index Figure 2 ESI indicator for the European Union against the WIG Index Source Calculations based on data from stooq pl and ec europa eu Trying to locate the stock exchange and it s up s and down s it is worth to observe the investors reaction since they precisely well reflect the extremes when granted optimism that we are probably at the maximum when most of the investors forecasts the drop most of the indicators hit the bottom As a

    Original URL path: http://www.pw-consulting.pl/en/news/pwc/56.html (2016-04-30)
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  • Jan Żuralski in “Million in Portfolio”
    Portfolio Known business television channel program has been an interest among people dealing with investments in the capital markets Thanks to which a wide group of investors may see investing at its best Program Rules are simple each participant receives a virtual million respectively which can be invested in any financial instrument From time to time generated by the portfolio results are presented to the viewers and subjected to detailed

    Original URL path: http://www.pw-consulting.pl/en/news/pwc/53.html (2016-04-30)
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  • Marketexpress
    It stimulates thinking about the next phase of increased QE or other stimulus measures The Japanese government has pushed for 18 months the idea of raising the sales tax His first increase in the second quarter of 2014 Led to a significant 1 9 decline in GDP Japanese households now save raw material prices Japan is a country that is not currently operates a substantial amount of natural resources used by the low prices of energy agricultural and industrial applications In 2015 rising wages and clear effects of stimulation can be seen after the Japanese labor market In Japan as a result of decreased Abenomik both unemployment and the availability of job candidates to potential employers All this creates a pressure on the other desired in Japan and in general among the developed economies factor inflation Abenomik is seen as a real impact however revenues and results of companies especially exporters Companies in the industrial sector is about 25 of the Fund s portfolio of ING L of Japan so the profits of companies such as Toyota Mitsubishi Hitachi and Mazda are of considerable importance for the entire Japanese stock market trading A place where you can see the effects of the devaluation of the JPY are obviously the most revenue and profits of exporters Toyota Motors the largest Japanese company and at the same time the exporter has increased its revenues compared to the days before Abe by more than 40 while profits increased by about 8 times For the whole of the Japanese stock market indicators are very attractive dividend only began to rise and already there are 6 times higher than yields on 10 year bonds Despite the increase in valuation prices remain low compared to other world markets Why invest in shares of Japanese with ING Foreign investors despite the spectacular boom in Japan in the last 2 years has not benefited fully from the growth rates The reason is the significant fall in the yen Fund ING L of Japan JPY exchange rate risk hedges PLN and therefore our results show a rate of return of the fund such as the investor sees in Japan and not for example In New York investing in USD and Amsterdam investing in EUR ING L of Japan gives exposure to 100 200 selected from the spectrum of 3 6 thousand Japanese companies Source strategy has a 14 year history the index alpha at the time was an impressive 5 83 Investment philosophy that guides the management is to find the values companies that are traded below their intrinsic value Source ING TFI Author Adam Łaganowski CFA Ważne informacje Niniejszy materiał został przygotowany przez ING TFI przy dołożeniu należytej staranności i zgodnie z jego najlepszą wiedzą oraz przekonaniami Wszelkie informacje zawarte w niniejszym materiale pochodzą ze źródeł własnych ING TFI lub źródeł zewnętrznych uznanych przez ING TFI za wiarygodne lecz nie istnieje gwarancja iż są one wyczerpujące i w pełni odzwierciedlają stan faktyczny ING TFI nie może jednak zagwarantować

    Original URL path: http://www.pw-consulting.pl/en/news/pwc/51.html (2016-04-30)
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  • What will bring the upcoming week
    in Poland On the one hand we have Adam Glapiński who recently stated in an interview with Reuters that there is no need for a further reduction in interest on the other Andrzej Bratkowski who sees space reductions of 100 points Since the MPC announced earlier that it would abstain from the decision to the next edition of the inflation projection the statement after the meeting probably find a reference to it Previous projection the prognostic point of view proved to be a unique fiasco without providing direction changes or GDP or inflation Incidentally following projections for inflation it seems that for the coefficients used in the model expert exceptionally responsible person fearing inflation Model systematically overestimates the indication for this area The most interesting statements to be what he said prof Kazmierczak He pointed directly because of the possible negative impact of the European Central Bank QE on the exchange rate in the context of the profitability of Polish exports It is true that if gold remains at levels similar to the long term average but the last few weeks is strengthening against the euro or the currency in which accounted for the majority of our exports The most likely scenario is a reduction on Wednesday and it looks like it s worth looking at the Polish Treasury bond market It functions as it were suspended because on the one hand discounting 75 basis points reduction on the short end of the curve on the other waiting for the MPC decisions that procrastinate over time The US economy is what everyone sees One of the sources of its effectiveness is effectiveness Next week we will get data on productivity in industry and unit labor costs in the fourth quarter Same data for one quarter say much yet According to

    Original URL path: http://www.pw-consulting.pl/en/news/pwc/48.html (2016-04-30)
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  • Oil price increases. Prices at the petrol stations will increase?
    continue the prices of fuel at the petrol stations will definitely raise said Urszula Cieślak of BM Reflex in an interview for TVN 24 BiS Brent in deliveries for March on the ICE Futures Europe in London is peaking to 54 cents and 55 29 USD for a barell Click here to see more Strike at the rafinery On sunday United Steelworkers Association which is representing workers employed in over 200 American rafineries oil terminals oil pipelines and chemical plants has decided to temporarily suspend works in 9 of the plants while there was no understanding upon the employment contracts The last quite significant cost cutting in the entire sector resulted with the half of the concerns being closed or suspends works from the places from which oil was extracted such explenation was given in an interview for Bilans by Jan Żuralski the CEO at Private Wealth Consulting He added the other factor for which influenced the entire situation are the periodical contracts for February which have expired More expensive at the petrol stations Associates rejected already five of the proposals made by the Royal Dutch Shell so as the Exxon Mobil Corp and Chevron Corp This situation caused raise in wages on the oil markets says Jonathan Barratt Main Investment Analyst at Ayers Alliance Securities in Sydney On the markets it is speculated that the extending strike at the rafineries will cause the drop of supply of oil Increasing prices of oil will result in increased prices at the petrol stations the upcoming days will be still resulting with a drop in prices at the petrol stations Cheaper will be all different types of fuels Nevertheless if the increase in prices of oil will stay steady or will continue to grow then in the second half of February we

    Original URL path: http://www.pw-consulting.pl/en/news/pwc/43.html (2016-04-30)
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