BPH bank shakes indices in the WSE

APA - Austria Presse Agentur
20-01-2006, 19:39

Warsaw (Puls Biznesu) – The Friday session was very calm on Friday nearly to the very end. In the afternoon, however, Bank BPH shares were withheld from trading. WIG20 index slid by some dozen points, but managed to rebound and ended at 2,909.77, or 0.8 percent up at its new all-time record.

Warsaw (Puls Biznesu) – The Friday session was very calm on Friday nearly to the very end. In the afternoon, however, Bank BPH shares were withheld from trading. WIG20 index slid by some dozen points, but managed to rebound and ended at 2,909.77, or 0.8 percent up at its new all-time record.

UCI announced a tender offer to buy Bank BPH, Poland’s third largest bank. The price is PLN 702.11 (EUR 3.7), or 11 percent below the market price. The Italians want to buy 8.32m shares, or 28.9 percent. Subscription will last from January 31st till March 1st.

Earlier in the day, KGHM copper producer and Bioton insulin producer were both pacing advances and both ended over 3 percent up. TP telecom was weak, similarly to PKN Orlen fuel giant. Among the biggest banks, Peako was the only one not to end in the red.

After Grupa Kety said it suffered fire in its building in Bielsko-Biala, shares were stopped from trading. Preliminary estimates say that the losses will amount to PLN 30-50m and the destruction of part of the machines will cause that the operating income will by PLN 20m lower. The company assured, however, that it will manage to regain its capacity till year end.

Among companies of small and medium capitalization, Bank Millennium rose after it published its financial results (best in history but a little bit disappointing). The bank promised to pay out a substantial part of its income as dividend, which will amount to PLN 0.55 a share. Pulawy chemical producer rose for the third consecutive day – today by 10.5 percent. Two construction companies, including Mostostal Warszawa and Polnord were also among best performers.

(PLN 1 = EUR 0.259)

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Podpis: APA - Austria Presse Agentur

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