Bourse sky dives to four month low

Dariusz Karolak
23-02-2001, 00:00

Bourse sky dives to four month low

With the US Nasdaq reaching an almost two year low, the financial crisis in Turkey which led to fears of recession in emerging markets, unemployment rising and uninspiring economic indicators, investors did not seem to keen on taking risks on the Warsaw stock market. Indeed it is now quite clear that if something really out of the ordinary does not happen then the Polish bourse is only set to deteriorate further as institutional investors take their money and run. For the fifth day in a row the WIG 20 took a clobbering losing 1.6 percent and falling to 1,529 points - almost 15 percent down since the beginning of the year. Turnover was also down to just over PLN300m.

The worst loser was once again the new economy, the TechWIG index fell by 1.4 percent to a new all-time low. Telecommunications companies came hurtling down, Netia falling by 5.5 percent and TPSA by 4.5 percent. Another major loser was copper miner KGHM - down 4.2 percent on the day.

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Podpis: Dariusz Karolak

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