According to the speculations of the daily Puls Biznesu which ranks the companies according to the turnover, during the annual revision of WIG 20 index Kety and CEZ will be replaced by Cersanit and Echo Investment. The reference day for changes in the index is 31 January with the changes effective from 15 March. At the same time, the daily speculates that as there is always some degree of subjectivism of the WSE authorities in the decision about the changes, due to political reasons CEZ could stay in the blue chip index.
Our view: In our opinion the recent strength of Cersanit and Echo and weakness of Kety could have partly been related to these speculations. This could also have impact on Getin (negative) and BRE (positive) which were speculated earlier to change places in the WIG 20.