Polish retailers, homebuilders boosted by new 'Polish Deal' plan
17/05/2021 10:40
May 17 (Reuters) - ** Shares in Polish retailers and
homebuilders are rising on Monday, boosted by the government
proposal aimed at bolstering the economy in the wake of the
pandemic
** Poland's ruling party Law and Justice (PiS) presented a
new "Polish Deal" plan on Saturday, proposing support for
housebuyers, pensioners and families, as well as tax cuts for
low and middle-earners urn:newsml:reuters.com:*:nL8N2N1400
** "The most recent economic plan will affect companies
exposed to retail demand," Ipopema analyst Robert Maj said,
naming food retailers Dino Polska DNP.WA , Jeronimo Martins
JMT.LS , Eurocash EUR.WA and e-commerce firm Allegro
ALEP.WA as benefiting from the plan
** "The planned reduction in taxes for the lowest earners
and an increase in tax and fiscal burdens for the middle class
and the highest earners will translate the most into increased
expenditure on consumption or food," Maj added
** The biggest positive surprise is the housing market
support programmes, BNP Paribas BM analyst Michal Krajczewski
said, adding it translates into a noticeable increase in the
shares of companies from the developer and construction sectors
** Video games maker CD Projekt CDR.WA rises over 5%,
Allegro is up 4.8%, while shoe retailer CCC CCCP.WA rises
nearly 3%, followed by Dino Polska and Eurocash, which edge 1-2%
higher
** Homebuilders .NIER are up 3.2%, the most among Polish
stocks, with Marvipol MVPP.WA and Dom Development DOMP.WA
rising 5-9%
((Anna.banacka@thomsonreuters.com))