The second week of the new year was marked by high volatility in global financial markets. Initially, the stocks were dominated by bulls. Certainly, better than expected volumes of export and import in China improved the markets’ sentiments. However, the market tone changed on Wednesday. As a result, most important stock exchanges moved towards the south. It was caused by the release of Beige Book which contained the economic outlook for the US. The analysis showed that the recovery might be uncertain.

Last week was dominated by the red color leading to the worst opening of a new year in history. The declines were caused by weak economic data from China. On Monday there was a release of the industrial PMI. It stood at 48.2 pts. to the expected 49.0 pts.. In addition, the services PMI unexpectedly failed (50.2 pts. vs 52.3 pts. expected). This data indicated a slowdown in Chinese economy. Moreover, accompanying strong pressure, which was resulted from the expected expiration of regulation that restricted the sale of shares by investors holding at least 5% equity stake in the company, led to the increase of tension in the markets and even panic.

The last week of the year for investors in Poland lasted only three days. Consequently, there were lower volumes. In addition, investors did not learn any significant economic data. What is more, despite the promising start of the week the index of the largest companies failed. As a result, the WIG20 decreased by 0.9%. Unlike Blue Chips, small and medium – sized companies ended the week in the green. The mWIG40 rose by 0.4% and the sWIG80 took off by 2.8%.

It was a very smooth and merry week on the WSE. Nevertheless, it did not hinder the continuation of increases on the market. In spite of lower volumes the WIG20 index went up by 1.1%. Moreover, medium-sized companies ended the week in the green – the mWIG40 rose by 1.8% and the sWIG80 took off by 1.0%. It was the second consecutive week in which polish stock exchange did not move towards the south. It seemed that Santa Claus continued his rally. However, he will not be probably able to bring a monthly growth.

Finally, investors on the WSE can be satisfied. For the first time in December the WIG20 ended the week in green growing by 5.8%. Surprisingly, small and medium - sized companies did not take a leaf from the biggest ones. The mWIG40 rose by 1.7% and the sWIG80 went up only by 0.4%. The effect of Santa Claus finally showed up on the Warsaw Stock Exchange. Lately, very good economic indicators helped stock markets to increase. The level of employment and salary in the enterprise sector grew stronger than expected.