Decrease of oil prices helps the stock market

27-05-2008, 19:33

After the long weekend and holidays on US and British markets yesterday, Warsaw investors were not very active today. However, the WSE did better than majority of European markets.

In the morning, most of them, were consolidating. Central and Eastern European markets were much stronger. So was the WSE which opened low but then rebounded. The volume of trade was low at first but in the afternoon exceeded the level of PLN 1bn.

KGHM copper producer was the leader among blue chips but then it dropped. Smaller blue chips did better, however, including GTC homebuilder, BZWBK and BRE banks. Pekao bank and TP telecom on the other hand were losing all day long. So did Bioton insulin producer. Petrolinvest oil company was growing even 9 percent  but ended 3 percent up. Sfinks restaurant operator was a star among smaller companies with 22 percent jump on the news that AmRest may acquire the firm.

mWIG40 ended up despite the fact that more companies lost than added. WIG20, however, lost 0.2 percent.

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Puls Inwestora / Decrease of oil prices helps the stock market