The main problem facing investors working with fundamental analysis is a relationship between raw material (fuel) prices and stock prices of companies using a given material. Quite popular hypothesis states that stock prices of fuel companies are to a large extent related to raw materials prices . and that increases of raw materials prices on global stock markets are conducive to an upward trend of fuel companies stock listings while a drop in these prices contributes to decline of such listings . Here, we make an attempt to verify this hypothesis basing on the example of the PKNOrlen stock price and crude oil prices in the ARA market.

* work financed form funds allocated for studies under the research project  KBN Nr  N N112 120935

1. FULLTEXT: Impact of global oil prices on the PKN Orlen stock price /*, Microsoft Office Document, 0.2MB

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