July is usually a quiet time on the stock market. This year it was not so as the WIG20 lost around ten percent. To make it worse this was the same everywhere, or more to the point less bad here than elsewhere. The reason for the falls has been blamed on Enronitis or audit manipulation syndrome as it is also called. Another reason is the lack of hope for an upturn in the world economy. The German business confidence index Ifo showed a lack of that confidence whilst American figures on industrial orders were very low.