Down a bit
The Warsaw stock market slipped on Friday with the WIG dropping 0.1 percent to 13,404.2 points and the WIG20 losing 0.6 percent to fall to 1,200.3 points.
Turnover was PLN272m.
Last week was one of the worst in a very bad year for several companies. The WIG20 lost 1.5 percent but power and telecommunications group Elektrim, for example, took a 18 percent drop in its market price as investors doubted the strength of a deal signed last month with Vivendi Universal and the crash of the złoty last week will have major effects on the company's ability to repay its USD1bn debt, a large amount of which is owed abroad.
Some analysts seem to think that this could be the bottom provided that the economy does not get worse and the Polish currency does not strengthen again. Nonetheless they will probably hold back until companies post their second quarter results next week. Most are expected to post a weaker performance due to the slacker economy and difficulties in exporting due to the strong currency.