Bulls are back on the WSE

MG
12-02-2008, 21:53

Warsaw (Puls Biznesu) – The WIG20 index exceeded 3,000 points finally, it ended substantially up while the volume of trade was higher than in recent days.

 

All European exchanges were doing quite well today after yesterday’s increases in the Wall Street. Credit Suisse’s losses which were smaller than expected made investors believe that the worst in the mortgage crisis is over. WIG20 quickly exceeded 3,000, the level it had been struggling with in recent days.

 

Investors welcomed the statement of W. Poole, Fed member, who said that chances are big that recession is avoided. Then, Warren Buffett said he would help companies insuring bonds. That’s why at the end of trading in Warsaw, WIG20 was over 4 percent up. It ended the day 3.8 percent up. Cersanit tile producer was the best performer among blue chips with over 9 percent increase. TVN media group, KGHM copper conglomerate and Pekao bank were pacing the advances. Smaller companies did much worse. Their index gained half of what WIG20 did. The volume of trade was quite high, shares worth PLN 1.8bn changed hands

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Podpis: MG

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