On a day when more than PLN130m worth of stock changed hands on the Warsaw stock market, the main index lost three percent. More than half of that stock was in teleco TPSA and fuel refiner PKN Orlen. The former lost almost 3.5 percent while the latter lost over 2.2 percent despite an announcement that profits this year would be greater than in 2001. Sales may be explained as a result of investors trying to effect their end of year results by selling surplus stock. All major Western European markets also fell.