Commodities drag the Warsaw indices down

(Paweł Kubisiak)
11-09-2006, 19:44

Monday was the fourth consecutive day of trading when the indices ended down. The window dressing may help the Polish stock exchange.

Monday was the fourth consecutive day of trading when the indices ended down. The window dressing may help the Polish stock exchange.

Shares worth PLN 475m changed hands on Monday. Since September 5th, the WIG20 index has lost 4.4 percent. Today, the 20 share blue chips index fell below 1 percent and ended the day at 2,967.2. It was losing even 2.25 percent during the day. The situation should improve in upcoming weeks not because of the economic situation in Poland, politics or commodity prices, but because of the end of the third quarter and the window dressing.

Commodity stock was falling along with oil and copper prices. PKN Orlen was the heaviest anchor for the market. The stock of the fuel giant shed 4.7 percent to PLN 47.65 while shares worth PLN 150m changed hands. Rival Lotos did not do much better. The stock ended 2.6 eprcent down to PLN 48.8. KGHM copper producer fell 3.5 percent to PLN 109m while shares worth PLN 113m changed hands. Grupa Kety on the other hand, the aluminium producer, rose to its 10-year record of PLN 174.

Hygienika was the best performer today. The producer of hygienic products jumped 14.4 percent after “Parkiet” daily wrote that Krzysztof Moska, one of Lentex shareholders, might be interested in Hygienika stock.

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Podpis: (Paweł Kubisiak)

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Inne / Commodities drag the Warsaw indices down