Bulls win on the WSE on Friday

MAG
opublikowano: 2008-08-29 20:37

Warsaw (Puls Biznesu) – Polish market is so hungry for increases that any news is good enough to boost stock prices.

The WIG20 index opened slightly up and quickly rose to 2,600 points. However, the upward trend stopped at 2,605 points. Blue chips were losing. Then, however, the 20 share blue chips index rebounded to 2,597 points ending 0.8 percent up. Small and mid caps rose similarly.

Cersanit ceramics producer paced the advances of the WIG20 index. The company gained 4.58 percent today. Asseco Poland IT company added 3.33 percent. Pekao bank was the third best blue chips with 3.01 percent. PKN Orlen fuel giant lost 2.8 percent on the rumors that Russia may cut oil deliveries to Europe.

Out of small and mid caps Beefsan meat producer was the best performer with 20.93 percent jump. Jago, the distributor of frozen food, gained 15.1 percent on “PB” news it acquired Milagros.

Shares worth over PLN 1bn changed hands.