Warsaw (Puls Biznesu) – Central European indices were falling today while their Western European counterparts were growing. The politicians are to blame for the situation in Poland, Hungary and the Czech Republic.
Hungarian BUX lost 2.2 percent on public unrests caused by very poor situation in the public finances. The member of the central bank of the Czech Republic said that the situation in the public finances got out of the control and the country will probably not manage to join the euro zone in the year 2010. In Poland, the clash among the coalition parties continues and the threat of a breakdown of the coalition remains a big threat.
The WIG20 index lost 1.57 percent to 2,962.07 points. Shares of blue chips worth PLN 1.27 billion changed hands, up from PLN 574m a day earlier. KGHM dived 5.3 percent on falling copper prices. The stock cost PLN 97.25, the lowest level since June. Shares worth PLN 290m changed hands. TP telecom generated PLN 210m of trade while the stock fell 1.2 percent to PLN 20.84. PGNiG gas monopoly decreased 1.8 percent to PLN 3.2 on the news that the energy regulator did not agree to raise gas prices by 4.9 percent. PKO BP and Pekao banks fell 1.3 and 1.5 percent respectively while shares worth PLN 150m and 190m changed hands. Elektrim was the worst performer with 10.9 percent loss. The company has shed 25.5 percent in the last four days.